Louisiana maintains current credit rating, escapes downgrade
BATON ROUGE - Louisiana has been spared a credit rating downgrade - for now.
Two national rating agencies - Moody's Investors Service and Standard & Poor's Rating Services - announced Friday they were keeping Louisiana at its current credit rating. But both moved the state from a "stable" to "negative" credit outlook.
The decision comes a day after Gov. Bobby Jindal made a personal pitch to Moody's about the health of Louisiana's economy and finances.
Other state officials spoke with both rating agencies this week to stave off a downgrade, saying the state was working to correct ongoing budget problems.
Ratings from the two credit agencies help determine interest rates. The change in outlook will raise state costs for borrowing money, but not nearly as much as a downgrade would have.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Gunfire outside Sorrento landfill escalates enviromental fight
Reported two alarm apartment fire on Titian Ave. near N Donmoor Ave.
20-year-old wanted for shooting near Doe's restaurant on Government Street
Legally blind teacher works, can't get disability assistance
Community gathers to honor Martin Luther King Jr. on MLK Day