LOS ANGELES - Moody's Investors Service Inc. said yesterday that a downgrade "should be expected" on California bonds unless state officials can produce a fiscal 1993 budget by Monday.

The warning from Moody's, strongly reiterating a downgrading threat issued last month when the state sold revenue anticipation warrants, reflects specific circumstances under which a "budget delay is a more serious and immediate concern" in California than in other states, the 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.