Bond ratings

The action follows an upgrade for the sole purchaser of its power.

Moody's based this downgrade on the lowering of the rating of the United States government.

Municipals were cut up four basis points, depending on the curve, through noon.

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.

Moody's Ratings cited low liquidity as a reason for the downgrade.

The outlook revision to positive from stable comes ahead of the airport's planned refunding and plans to issue bonds to help finance a $2.7 billion capital program.

The state plans to price $626 million in GOs, in part, to fund the I-5 bridge replacement

S&P Global Ratings cited longer-term concerns on Palisades wildfire-related liabilities in shifting its CreditWatch on Los Angeles Department of Water and Power to a negative outlook.

The Senate's move to rely on an untested accounting method for the reconciliation bill contributes to the lack of clarity around future deficits, the ratings agency said.

Moody's Ratings upgraded Nebraska's issuer rating to Aaa from Aa1 on Monday. It also upgraded the state's $24 million certificates of participation to Aa1 from Aa2.