Fitch downgrades California GO bonds to 'A'

SAN FRANCISCO, March 19 (Reuters)
By Jim Christie

Fitch analysts in a report noted California's "economic performance and revenue
expectations have continued to decline since the state developed its current revenue
forecast in November 2008," and pointed to a state unemployment rate of 10.1 percent
and a recent state legislative analyst's warning of a "sizable" revenue shortfall in the next
fiscal year.

"The driving concern is the weakness of the state's economy and the outlook for state
revenues," Fitch Senior Director Douglas Offerman told Reuters.

http://www.reuters.com/article/marke...27832320090319