Governor To Meet With Credit Rating Agencies After Downgrade
BATON ROUGE (AP) — Gov. John Bel Edwards is visiting with representatives of the major credit rating agencies, after Louisiana was hit with one downgrade and is threatened with more.
Edwards spokesman Richard Carbo says the governor will meet with rating agency officials Thursday evening at the governor's mansion. Also invited to the meeting were legislative leaders and Treasurer John Kennedy.
Carbo says Edwards called the meeting to try to reassure the rating agencies that he and lawmakers are working to stabilize Louisiana's finances after years of budget problems.
But even after a recent round of tax hikes, Louisiana still faces deep shortfalls.
Moody's Investors Service — one of the rating agencies that will be at Thursday's meeting — downgraded Louisiana last month, citing years of "structural imbalance" in the budget and declining reserves.