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News Link • Economy - Economics USA

Minnesota loses AAA rating on Fitch downgrade

• Reuters

Minnesota lost its top credit rating on Thursday as Fitch Ratings downgraded the state's general obligation bonds one notch to AA-plus, citing the budget impasse.

Minnesota's state government has been shut since last Friday, when Democratic Governor Mark Dayton and the Republican-led legislature missed the July 1 deadline for a budget. The governor's latest plan totals about $1.4 billion more than the GOP's $34.2 billion proposal.

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