SAN FRANCISCO — As lawmakers in Sacramento this week showed increased signs of coming to an impasse over California’s severely unbalanced budget, Standard & Poor’s placed the state’s A-rated general obligation bonds on negative CreditWatch.

In its late Monday analysis, Standard & Poor’s, while stating its belief that California “retains a fundamental capacity to meet its debt service,” also raised the specter of an increased risk of missed debt-service payments should the state fail to adopt the budget actions needed to avoid a liquidity crisis.

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