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California is enjoying a better reputation among bond investors since state voters approved tax...
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Tuesday, November 27, 2012, 6:36 PM ETCalifornia is enjoying a better reputation among bond investors since state voters approved tax increases S&P estimates will boost revenues by more than $6B over the next several years. California is distancing itself from the one state it consistently, if barely, outranks in the muni market hierarchy: Illinois, which has done little to address its $83B unfunded pension liability.
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This news story has 3 comments:
furthermore,it is a temporary tax,although we all know what a temporary tax is.
anyway,this tax should not represent a source of comfort to bondholders or rating agencies.