UPDATED: Haslam: External factors could sway Tenn. credit
By ERIK SCHELZIG Associated Press
NASHVILLE, Tenn. (AP) - Concerns over federal spending decisions could play a larger role in determining Tennessee debt rating than what Gov. Bill Haslam called the state's positive story on how it manages its finances.
Haslam led a delegation to meetings with the three major ratings agencies in New York this week. The Republican governor told reporters in a conference call Wednesday that the agencies were impressed by Tennessee's low debt level and its management of TennCare expenses.
Pending federal spending reductions are a major factor that the state can't control, though Haslam said the delegation argued that Tennessee is no more vulnerable to cuts than other states.
Haslam said the agencies also appreciated that each state agency has drawn up contingency plans for federal cuts of 15% and 30%.
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Wednesday, May 22 2013 7:54 AM EDT2013-05-22 11:54:16 GMT
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Several things are coming together to increase our chances for some severe weather later today. A warm, humid air mass already in place will interact with unseasonably cool air that will be pushing through today and tomorrow.More >>