WASHINGTON — Fitch Ratings made more U.S. public finance downgrades than upgrades during the third quarter of 2013, while Standard & Poor’s boosted more ratings than it cut, the rating companies said in reports this week.

During the third quarter, Fitch downgraded 39 U.S. public finance credits and upgraded 23. That amounts to 1.7 downgrades for each upgrade, compared with 2.8 downgrades for each upgrade in the second quarter, the rating agency said.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.