BATON ROUGE, La. – Fitch Ratings downgraded Louisiana’s credit rating a notch today, according to State Treasurer John Kennedy.

“This is what happens when you spend more than you take in for seven years running. It’s disappointing but not surprising,” said Treasurer Kennedy. “The rating agencies are tired of Louisiana’s accounting gimmicks and spending practices.”

Moody’s Investors Service downgraded Louisiana’s credit rating earlier this year. Fitch’s action comes just days before Louisiana goes to market on up to $600 million in general obligation bonds.

Contact:
Michelle Millhollon
(225) 342-0012
mmillhollon@treasury.state.la.us