California GO, Lease Ratings Placed on CreditWatch Negative Due to Budget Uncertainty Analyst: David G Hitchcock, New York (1) 212-438-2022; Alexander M Fraser, Dallas (1) 214-871-1406 Publication date: 02-Jul-03, 12:46:50 EST Reprinted from RatingsDirect NEW YORK (Standard & Poor's) July 2, 2003--Standard & Poor's Ratings Services said today it placed its 'A' rating on California's $26.8 billion general fund-supported general obligation debt and $6.7 billion state general fund lease-supported debt on CreditWatch with negative implications, reflecting the state's lack of progress in adopting a fiscal 2004 budget and the diminishing prospects that meaningful structural budget reform will result from an...