LOS ANGELES -- California Treasurer Kathleen Brown this week warned that the state's triple-A bond rating may be downgraded if state leaders do not call a special session to address the state's projected $3 billion budget gap.

Ms. Brown cautioned on Tuesday at the Sacramento Press Club that California's bond rating is in "serious jeopardy" and said lawmakers should meet and take action on the state's economic problems. The legislature is in recess and will return in January.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.