S&P, which lowered its long-term local and foreign currency credit ratings on Japan on Thursday to double-A-plus from triple-A, changes its ratings more frequently than other agencies as it reacts to affecting factors more flexibly, said the JCIF, a government-affiliated economic research institute.
The four other credit-rating agencies covered by the JCIF survey were Japan Credit Rating Agency Ltd.
Senator John Vasconcellos (D -- San Jose) authored legislation in the state's Welfare-to-Work Act (AB 1542, Chapter 270 of 1977) that provided funding for the JCIF program.
Many counties exceeded their JCIF goals and have achieved tremendous success in working together with communities that will have benefits for years to come.
JCIF was created by California legislation in 1997 and is scheduled to end June 30, 2002.
The California Association for Local Economic Development (CALED) was one of the partners responsible for legislation that created JCIF, and participated in organizing and training sessions during the program's launch.