Louisiana leaders want firms to adjust the state's ratings to boost bond sales for I-49 expansion

[TexasTowelie]

Louisiana money leaders want firms to adjust the state's ratings from negative to stable to boost bond sales for I-49 expansion near Lafayette

State financial leaders Tuesday lobbied the big New York rating agencies, arguing that in light of the results of the recent legislative session, the influential firms should adjust the state’s credit score upwards from negative to stable.

How the agencies view Louisiana’s finances, now that the numbers are in from the changes made by the Legislature, will go a long way to determine how much the state will have to pay next month for borrowing that would raise money to expand Interstate 49 south of Lafayette.

It’ll be the first bond issued since legislators attempted to address some of the financial problems raised by Moody’s Investors Services in February, when the firm lowered the state’s credit outlook from stable to negative.

“We were very clear in our ask: We did the work that needed to be done,” Commissioner of Administration Kristy Nichols said Tuesday in between calls to Moody’s and Fitch Ratings. On Wednesday the team will make their presentation to Standard & Poor’s Financial Services.

Read more: http://theadvocate.com/news/12973520-125/louisiana-money-leaders-plea-for