BRADENTON, Fla. - Florida's elected chief financial officer, Alex Sink, on Thursday joined 11 state treasurers and four major municipal issuers in urging the three major rating agencies to establish a uniform rating system for municipal and corporate debt.

Sink wrote that munis are penalized because the current system regards state and local government bonds as riskier investments, "when in fact history reveals that corporate bonds have defaulted more frequently than their similarly ranked municipal counterparts."

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