Louisiana spared credit downgrade - FOX 8, WVUE, fox8live.com, weather, app, news, saints

Louisiana spared credit downgrade

Louisiana has been spared a credit rating downgrade - for now. (FOX 8 photo) Louisiana has been spared a credit rating downgrade - for now. (FOX 8 photo)

BATON ROUGE, La. (AP) - 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.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Local NewsMore>>

  • Zurik: Convention Center out-of-town totals 'essentially useless'

    Zurik: Convention Center out-of-town totals 'essentially useless'

    A critic of convention centers says the one here in New Orleans must not care about being wrong. Almost two years ago, we investigated the Morial Convention Center and showed how their attendance numbers are way off.  Now, new numbers show the trend continues, possibly worse than ever. 

    more>>

    A critic of convention centers says the one here in New Orleans must not care about being wrong. Almost two years ago, we investigated the Morial Convention Center and showed how their attendance numbers are way off.  Now, new numbers show the trend continues, possibly worse than ever. 

    more>>
  • Zulu King files paperwork to have lawsuit thrown out

    Zulu King files paperwork to have lawsuit thrown out

    Former Zulu Social Aid and Pleasure Club president Naaman Stewart, pictured here in 2016. (Photo by Peter G. Forest, Nola.com | The Times-Picayune)Former Zulu Social Aid and Pleasure Club president Naaman Stewart, pictured here in 2016. (Photo by Peter G. Forest, Nola.com | The Times-Picayune)
    Former Zulu Social Aid and Pleasure Club president Naaman Stewart, pictured here in 2016. (Photo by Peter G. Forest, Nola.com | The Times-Picayune)Former Zulu Social Aid and Pleasure Club president Naaman Stewart, pictured here in 2016. (Photo by Peter G. Forest, Nola.com | The Times-Picayune)

    The former Zulu president and current king wants a judge to throw out a civil suit alleging sexual harassment. 

    more>>

    The former Zulu president and current king wants a judge to throw out a civil suit alleging sexual harassment. 

    more>>
  • Two of 5 teens arrested in Metairie car chase, shootout have criminal history

    Two of 5 teens arrested in Metairie car chase, shootout have criminal history

    These two teenagers are accused of being in a car whose passengers shot at Jefferson Parish sheriff's deputies. (Source: JPSO)These two teenagers are accused of being in a car whose passengers shot at Jefferson Parish sheriff's deputies. (Source: JPSO)
    These two teenagers are accused of being in a car whose passengers shot at Jefferson Parish sheriff's deputies. (Source: JPSO)These two teenagers are accused of being in a car whose passengers shot at Jefferson Parish sheriff's deputies. (Source: JPSO)

       Jefferson parish deputies keep looking tonight for a teenager accused in an early morning chase and shootout. 

    more>>

       Jefferson parish deputies keep looking tonight for a teenager accused in an early morning chase and shootout. 

    more>>
Powered by Frankly