More headaches for Standard and Poores — and this time, it’s local. Not only is the credit rating agency being investigated by the federal government, it’s been fired by Manatee County. The county joining a number of local governments nationwide who commissioned S&P to rate their investments by saying “no more”. That’s because, according to The Wall Street Journal, S&P recently downgraded Manatee County’s fund ratings from AAAf to AAf. The City of Los Angeles among other local governments to fire S&P for the same reason. The report says the ratings for 14 government investment pools were downgraded because of significant exposure to U.S. Treasury investments.
