“Louisiana has taken another financial hit, with a second national rating agency downgrading the state's credit rating. Treasurer John Kennedy said Fitch Ratings dropped the rating by one notch Tuesday. The decision comes only days before Louisiana planned a general obligation bond sale to refinance its debt. The borrowing could become more expensive with the rating downgrade. Ratings from the credit agencies help determine interest rates on borrowing.”
Source: <a href="http://www.lebanondailyrecord.com/article_79faef46-c6e8-5c40-a0f5-3d35783894a7.html">Louisiana gets hit with another credit rating downgrade</a> by Associated Press.
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