These aren't things that we can necessarily change overnight, but it's a bit of an extortion racket because we're not able to go out into the free market and go find other rating agencies to do our bond rating. There's only a couple of [rating agencies] that you can deal with, Moody's, S and P that are going to do the bond ratings for the state like West Virginia. which I was the state treasurer of and the chief financial officer. So we were caught in between a rock and a hard place on this. (01:25–01:34)
CLAIM
Asserts that only a few agencies, specifically Moody's and S&P, provide bond ratings for states like West Virginia.
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