SAN FRANCISCO – Standard & Poor’s has assigned an SP-1 rating to California’s upcoming $4 billion revenue anticipation note sale, but placed the state’s A-plus general obligation bond rating on negative CreditWatch until the state demonstrates that it can successfully sell its short-term notes.

The week of the 13th's planned $4 billion sale is the first installment toward $7 billion of Rans the state needs to issue during the current fiscal year to meet cash-flow requirements.

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.