
Moody’s: Drought Poses No Risk to California’s Credit
California’s record four-year drought will have little impact on the state’s overall economy, according to credit rating agency Moody’s.

California’s record four-year drought will have little impact on the state’s overall economy, according to credit rating agency Moody’s.

A California court dealt a potentially major setback Friday to state water regulators when it ruled that curtailment notices sent to four water agencies to stop pumping water during the drought violated those agencies’ due process rights.

Mandated drought restrictions have spawned San Diego’s new “Bucket List Challenge” bucket giveaway, which asks area residents to take actions like using cold water from their warming showers to flush their toilets.

On Wednesday, California Gov. Jerry Brown issued an executive order introducing new mandatory water restrictions in an effort to cut statewide water use by 25 percent.

Facing falling revenue due to reduced water use, three of the largest Bay Area water agencies are mulling rate hikes for their customers as California finds itself mired in a fourth year of drought.