LOS ANGELES -- Several California counties may be placed on CreditWatch with negative implications if voters defeat a measure Tuesday to extend a half-cent state sales tax increase, Standard & Poor's Corp. said yesterday.

"The failure of Proposition 172 would require many counties to adjust their budgets substantially and would likely result in some rating downgrades," the rating agency said in a release.

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.