SAN FRANCISCO - California Treasurer Bill Lockyer, joined by 14 of his peers, released a letter yesterday to the three major rating agencies, asking them to create new ratings standards for municipal debt.

The letter in its final form confirms many of the points that were widely publicized in advance of the release, starting with a front-page New York Times article published late Sunday.

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.