SAN FRANCISCO — California will bring the largest municipal bond issue since 2007 to market next week with across-the-board single-A ratings, following dual downgrades yesterday from Fitch Ratings and Moody’s Investors Service.

Fitch and Moody’s each dropped California one notch, to A and A2 respectively, in advance of next week’s $4 billion general obligation bond deal. Both agencies had earlier placed the state on watch for downgrade.

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