Moody’s Investors Service has downgraded the state’s bonds for its failed deal with 38 Studios. Moody’s has put those and other state bonds under review for possible additional downgrades.
In explaining the move, Moody’s points to uncertainty in the General Assembly about whether to allocate money for paying back the 38 Studios’ bonds. The investors’ service downgraded the 38 Studios bonds from a low credit risk to a moderate risk.
House Minority Leader Brian Newberry (R-North Smithfield) joins the Roundtable this week to discuss his expectations on the budget; whether the state should pay back moral obligation bonds related to 38 Studios; what the General Assembly will accomplish this year to boost the economy; and more.
Residents and merchants in the East Bay are sharply opposing tolls on the Sakonnet River Bridge. Local lawmakers have joined them in asserting the tolls will hurt the economy in communities near the bridge.
Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.
The start of June has done nothing, naturally, to stop the breakneck flow of news in the Land of The Gift That Keeps on Giving. So welcome back to my weekly column. You can reach me at idonnis (at) ripr (dot) com, and (please) follow me on Twitter. Let's head in.
A business-backed advocacy group says Rhode Island needs to make fundamental changes to strengthen its economy. The Rhode Island Public Expenditure Council is urging support for legislation this week to reshape the state’s approach.
The Rhode Island Public Expenditure Council, RIPEC, said lower than expected state revenue is a sign of continued weakness in Rhode Island’s economy. In contrast to Massachusetts, the Ocean State has yet to regain the peak number of jobs that existed before the recession.
State Representative J. Patrick O'Neill (D-Pawtucket) joins the Roundtable this week (along with guest panelist Dan McGowan of WPRI-TV, Channel 12) to discuss Governor Lincoln Chafee's move to become a Democrat; the way forward for economic development, and legislative questions.