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Moody's sees pension-fees hike a positive for California gov'ts
April 19, 2013 / 2:11 PM / in 5 years

Moody's sees pension-fees hike a positive for California gov'ts

April 19 (Reuters) - Moody’s Investors Service said a hike in pension fees by the California Public Employees Retirement System will pressure other spending by local governments but will be a long-term credit positive for the state’s bond issuers.

“Despite the near-term pressure, in the long run the increased contributions are likely to benefit both local governments and the State of California,” the Wall Street credit-ratings group said in a commentary released on Friday.

California is rated A1, with a stable outlook, Moody’s said.

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