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West Virginia Bond Rating Downgraded for Third Time in a Year
The third bond rating agency in a year announced Tuesday it would be downgrading West Virginia's rating, from AA1 to AA2.
West Virginia’s Revenue Secretary Dave Hardy announced the decision during a press conference at the Capitol with Gov. Jim Justice.
“This just makes me sick," Justice said after the announcement. "I mean, that’s just all there is to it."
Hardy explained while the change in rating isn’t drastic, it does impact $392 million in outstanding state debt and will affect any bond proposals the state puts forward in the future.
Read more: http://wvpublic.org/post/wva-bond-rating-downgraded-third-time-year