State Controller issues statement on California's improving credit outlook.
State Controller John Chiang today issued a statement on
news that two rating agencies -- Standard & Poor’s and Fitch --
have indicated a more favorable outlook on the State's credit rating:
the State’s chronic cash problems fading, I am pleased that two rating
agencies are poised to upgrade California's credit worthiness," said
Chiang. "If we
hope to continue to govern outside of crisis, we must avoid the
over-spending mistakes of the past and take a long-term view of how to
sustain the State’s fiscal health."