May 7, 2013 / 8:26 PM / 5 years ago

S&P cuts Pennsylvania's Columbia County 2 notches

May 7 (Reuters) - Standard & Poor’s Ratings Services downgraded Pennsylvania’s Columbia County by two notches on Tuesday, to A-minus from A-plus, because of a “sharp” decline in its general fund.

The central Pennsylvania county’s general fund balance is currently at “nominal levels because of the county’s reliance on state and federal revenues that have been consistently under budget,” said S&P analyst Richard Marino in a statement.

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