Voters in at least four states approved ballot referendums last week that could negatively affect credit quality, while voters in at least three other states endorsed credit-strengthening measures, like larger rainy-day funds, rating agencies said in two recent reports.

Published by Moody’s Investors Service and Standard & Poor’s, the reports agreed that voters in four states — Arizona, California, Massachusetts, and Washington State — approved referendums that could pose revenue or credit challenges, the reports 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.