I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
Moody’s Investors Service placed New Mexico and four other states with AAA credit ratings “under review” for downgrade Tuesday because of their sensitivity to a possible downgrade of U.S. creditworthiness if the $14.3 trillion debt limit is not raised.
Of the 15 states with the highest credit rating, ten were not placed “under review” for downgrade. New Mexico was because of its above-average rate of federal employees, percentage of Medicaid spending as a share of the state budget, high number of federal contracts and a relatively high risk of capital market flight.
A downgrade to AA1 of New Mexico’s creditworthiness would rise borrowing costs for the state. However, unlike most states, thanks to New Mexico’s mineral wealth revenues are set to rise in this fiscal year and the upcoming year.
Rising revenues mitigate the risks of a downgrade, but the other factors still make New Mexico’s creditworthiness subject to review, according to Moody’s.
