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California's Bonds Downgraded Again.

By Dale Kasler, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News

Aug. 5--Unconvinced that California has solved its budget problem, a second Wall Street firm lowered the state's bond rating Monday.

This time the downgrade came from Moody's Investors Service, which chimed in the first day of business after Gov. Gray Davis signed the new state budget into law. Moody's action, coming two weeks after its rival Standard & Poor's issued a downgrade, reinforced California's plummeting standing on Wall Street as it prepares crucial bond sales to s

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