<p>Sacramento -- A second major Wall Street rating agency downgraded California's credit on Monday, but not as severely as the hit the state took two weeks ago.</p>
<p>Moody's dropped its rating on California's general obligation debt a single notch, from A2 to A3, keeping the rating in the uppermost tier. Standard & Poors downgraded California three notches on July 24, dropping it into the "B" category.</p>