Copyright© 2007 by School Services of California, Inc.

                                      Volume 20                   For Publication Date: June 22, 2007             No. 14

By the Way . . .

California’s Credit Outlook Raised. Standard & Poor’s (S&P) Ratings Services has raised its outlook from “stable” to “positive.” Although S&P didn’t raise California’s A+ bond rating, by raising the outlook, it said an upgrade in the rating itself could occur. 

S&P cited California’s “strong economic performance” and said the budget picture is brightening. While the next fiscal year budget will include a structural deficit, it will be slightly smaller than this year’s, S&P said.