California Governor Schwarzenegger Issues Statement Regarding California’s Upgraded Credit Rating

06/11/2007 -- California Governor Arnold Schwarzenegger issued the following statement today after Standard & Poor's Ratings Services upgraded California's credit rating from "A+/Stable" to "A+/Positive":

"This is another signal from the financial markets that California is continuing to move in the right direction. By paying down debt ahead of schedule and by controlling the growth in spending, as I've proposed in my budget, our credit rating can go up and our borrowing costs can go down.

"As the legislature continues its work on the budget, I hope that they will keep this message in mind. If we stay disciplined in our spending, and if we continue to keep paying down our debt, it will benefit our bottom line."

Source: California Governor

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