SAN FRANCISCO -Bill Lockyer predicts success in his campaign to reform the credit rating system for municipal bond issuers. Even Standard & Poor's, despite what Lockyer described as a "condescending" attitude toward his calls for reform, will come around, the California state treasurer said Friday.

"I know who their parent company is," said Lockyer, delivering a speech here at the Information Management Network's California Municipal Finance Conference. "It's just going to cost them a whole lot more headache from people like me who want to go have proxy fights with McGraw-Hill."

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