Speaker meets with rating agencies on 38 Studios - ABC6 - Providence, RI and New Bedford, MA News, Weather

Speaker meets with rating agencies on 38 Studios

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By News Staff


The Associated Press

Rhode Island's House speaker says he had a fruitful meeting with two Wall Street ratings agencies as lawmakers have been discussing whether to default on bonds that financed the failed 38 Studios deal.

Democratic Speaker Nicholas  Mattiello would not say what his own position is after Wednesday's meetings in New York with Moody's and Standard & Poor's. But he said he is leaning in one direction, and that he's comfortable he has the correct perspective.

He's calling a caucus for Thursday afternoon with fellow Democrats.

Mattiello wouldn't say what he was told by the ratings agencies, but said credit rating agencies ``tend to maintain consistency.''

Both agencies have warned in the past that they will downgrade the state's credit rating if it defaults. That would make borrowing more expensive.

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