Mr. Schwarzenegger's action follows a series of crises that have highlighted the precarious economic condition of California, whose bond status was cut on Thursday to near junk-bond level by Fitch Ratings, the third ratings agency to lower the state's rating this year.
Fitch has become the third ratings agency to cut Hungary's credit rating to junk status.
It's the third ratings agency after Fitch and Standard & Poor's to lower the country's credit rating, but the least harsh of the three.
Third, ratings are almost guaranteed.
A third ratings agency, Standard & Poor's, said last June that it did not anticipate changing ratings on any commercial real estate loans because of lack of terrorism insurance since it was virtually impossible to calculate the risks of another attack.
Third, ratings are a difficult cognitive task, requiring evaluation of the intensity of preference on a predetermined numerical scale [14].
After completing their rating, the second rater gave the tests to a testing coordinator who examined the tests to determine how many third ratings were needed.
A third ratings firm, Fitch, downgraded MBIA's financial strength ratings in April, and the insurer asked that its ratings be withdrawn.
