1998 Moody's cuts rating for Kauai's bonds One of the nation's leading raters of corporate and government bonds has downgraded its opinion of bonds issued by the County of Kauai.
Bond ratings can affect the interest the issuer has to pay to raise the money.
Moody's officials were not immediately available for comment on the change. The governor yesterday appointed Pai to take the seat being vacated Friday by Yukio Naito. Pai's nomination was withdrawn in 1996 because of opposition in the state Senate, which must approve the appointment. He then was appointed on an interim basis, but resigned after senators complained that the appointment violated the state Constitution. The latest appointment shouldn't create the same problem, since Pai would fill a new vacancy, a Cayetano spokeswoman said.