Standard & Poor's

Credit rating agencies are taking notice of the ongoing political gridlock in Louisiana’s legislature, and it could lead to higher borrowing rates for the state. 

Louisiana Trying to Salvage Credit Rating

Feb 13, 2015

State officials have been burning up the phone lines between Baton Rouge and New York City this week, trying to stave off the threatened downgrade of Louisiana’s credit rating. State Treasurer John Kennedy says it’s been intense.

“We’re in trouble. I don’t want to overstate that, but I don’t want to sugarcoat it, either,” Kennedy says. “We’re in trouble with two of the three rating agencies. Moody’s and Standard & Poor’s have told us unless we get our fiscal affairs in order, they’re going to downgrade us.”