Bangkok--6 Nov--Standard & Poor's
Voters' rejection of measures that would have limited growth in government revenues or spending in Maine and Washington in the Nov. 3, 2009, state elections was the most significant outcome from a credit perspective, Standard & Poor's Ratings Services said today in an article.
"Overall, we do not anticipate any immediate credit impact as a result of the passage or failure of this year's ballot measures," said Standard & Poor's credit analyst Christ Morgan.
The 26 measures considered by voters in six states were a fraction of the 153 measures in 2008 but typical for off-year elections, according to the Initiatives and Referendum Institute.
"This year's results, in our view, showed continued support for debt authorizations, use of gambling to generate revenues, and a reluctance to change frameworks for setting budgets," said Mr. Morgan in the article, ."Voters Reject Constraints On Government Financial Flexibility In A Very Light Year For Ballot Measures," published on RatingsDirect.
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Chris Morgan, San Francisco (1) 415-371-5032
Le T Quach, New York (1) 212-438-5544