Just as the economy started to pick up last summer, the State Supreme Court cut off future borrowing for operating expenses.

The justices suggested, in addition, that they might invalidate future borrowing for general operating funds, while leaving the current budget intact.

In the process, parents can talk about how credit bureaus work and how a credit record can be damaged, making future borrowing difficult.

The conditional commitment is for loan guarantees that would apply to future borrowings related to the construction of Vogtle units 3 and 4.

A default by the holding company would relieve some of the pressure to pay dividends, he said, but would make future borrowing much harder.

Ms. Woodell said it was encouraging that state leaders were taking action to restrain future borrowing and to reduce the state's existing debt.

The new rating is extremely weak and will further erode confidence in the company, as well as make future borrowings more expensive.

They don't consider, he said, that such a guarantee could limit their own future borrowing.

The lowering of the city's bond ratings will make its future borrowings more expensive and more difficult to arrange.

"There is the expectation that the money from future borrowing will be for capital purposes," said Mr. Orlando, of the city's budget office.