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  • Moody???s announcement is not a downgrade of the state???s current rating of Aa3 ??? which is already lower than every state except California and Illinois ??? but it is a warning that the rating might fall if New Jersey???s finances don???t improve.???It???s a caution light, as seen by Moody???s, on the relationship between the state???s commitments and their revenue stream,??? said Joseph Seneca
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