WASHINGTON - Virginia and other states with gilt-edged credit ratings probably will not be hurt if municipal and corporate bonds are all rated according to the likelihood of repayment, Jody M. Wagner, Virginia's secretary of finance, said in a recent interview.

Some market participants have worried that the long-standing triple-A ratings of states such as Virginia will be diluted if legislative and rating agency initiatives to put muni and corporate bond ratings on the same basis are adopted and result in more municipal issuers receiving such ratings.

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