The Treasury Department yesterday said it will pay down $8.007 billion at its weekly auction of 91-day and 182-day discount bills Monday by selling $29 billion to refund $37.007 billion in maturing securities.
To be sold are $15 billion 91s, dated June 4 and due Sept. 6, and $14 billion 182s, dated June 4 and due Dec. 6.
Rising debt and interest payment ratios over more than a decade, to levels higher than other nations', prompted the downgrade, Moody's said.
Issuance for the week of May 19 is estimated at $11.667 billion.
Lawmakers have $755 million less to spend and only six more weeks to work on the two-year budget.
The committee may take the bill up again as soon as Monday.
As the Trump administration puts its stamp on dispensing infrastructure funding, proponents of P3's, PABs, federal and formula funding are squaring off against grants to state and local governments.
The rating agency, which gave the state a positive outlook a year ago, upgraded its general obligation rating a notch to AA-plus ahead of a $25 million bond sale.
