GOLDBERG, HEFFERNAN READY FOR WALL STREET "ROADSHOW"
By Colin A. Young
STATE HOUSE NEWS SERVICE
STATE HOUSE, BOSTON, DEC. 5, 2018.....Hoping to show that Massachusetts has been responsible since getting whacked with a bond rating downgrade last year, Treasurer Deb Goldberg on Wednesday proposed state fiscal managers bring their message directly to the rating agencies.
Treasurer Deborah Goldberg said she's ready for another "roadshow" to meet with credit rating agencies in New York. [Photo: Sam Doran/SHNS]
S&P Global Ratings lowered its rating for Massachusetts bonds to AA from AA+ in June 2017, largely due to the state diverting money from its stabilization fund while the economy was growing. In remarks to the Joint Ways and Means Committee, Goldberg said rating agencies now need to know that the state's rainy day fund has surpassed a $2 billion balance for the first time since fiscal 2008.
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