Credit rating en Update: Gregoire warns of more cuts to come; credit rating stable <p>Governor Chris Gregoire is telling state agencies to prepare for further budget cuts because of the faltering economy. Her budget office today asked agencies for ideas to reduce planned spending by 5 or 10 percent.&nbsp;</p><p>Meanwhile, the Standard &amp; Poor&#39;s downgrade of federal debt is unlikely to have much near term effect on the borrowing costs for the state. Although, S&amp;P did deal the city of Tacoma a blow by <a href="">downgrading it&#39;s credit rating</a> on debt backed by the federal government.</p><p> Mon, 08 Aug 2011 23:36:21 +0000 Tom Banse 2280 at Update: S&P lowers Tacoma's rating on debt backed by fed <p>Soon after downgrading the credit rating of the United States, Standard &amp; Poor&rsquo;s has taken the city of Tacoma&rsquo;s rating down a notch from AAA to AA+ on debt it has issued that is backed by the federal government, <a href="">according to a report in the Puget Sound Business Journal.</a></p><p> Mon, 08 Aug 2011 22:56:10 +0000 Jake Ellison 2279 at