Issue Position: Improving California's Credit Rating

Issue Position

The State of California current bond ratings are some of the lowest in the nation. Since 1986 California's General Bond Rating has declined from AAA to single A.

In the city of Atherton, where Conlon serves as Chairman of the Finance Committee, the town is expressly prohibited from purchasing California bonds with its excess cash on-hand because the town's investment policy only allows investments in AA bonds. It is unacceptable that a city or town residing in the State is prohibited by its prudent investment policy from buying its own state's bonds due to weak bond ratings.

Conlon will work with all three major rating agencies to determine exactly what the State needs to do to improve its bond ratings to at least a AA or equivalent.

As a CPA and businessman with in-depth financial expertise, Conlon is well equipped to understand and improve the bond ratings, and work with the Governor's Office and the legislature to take the necessary action to improve the ratings. There is no excuse for California to have such a low rating.

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