Michigan Gov. Snyder: Bond rating agencies eying November vote on Michigan ballot initiatives

Snyder says meetings with ratings agencies went well and the state expects to find out week of Oct. 22 whether ratings might change

Published On: Oct 12 2012 10:25:49 AM EDT   Updated On: Oct 12 2012 11:10:54 AM EDT
LANSING, Mich. -

Gov. Rick Snyder says bond rating agencies are keeping an eye on what happens with ballot proposals before Michigan voters next month.

Snyder spoke Friday in a telephone interview with The Associated Press from New York, where he's been giving financial presentations with State Budget Director John Nixon.

Snyder says proposals that are of particular interest to rating agencies are Proposal 2 to enshrine collective bargaining rights in the state constitution and Proposal 5 to require approval by two-thirds of each legislative chamber or by a majority of voters to raise taxes. Snyder has said he wants "no" votes on those Nov. 6.

Overall, Snyder says meetings Thursday with ratings agencies went well and the state expects to find out the week of Oct. 22 whether ratings might change.

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