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Ohio credit rating unaffected by union law defeat

The repeal of Ohio's collective bargaining law has no immediate credit impact on the state or its local governments, according to an analysis by a top ratings agency.

By Ann Sanner | Updated on November 15, 2011

COLUMBUS, Ohio (AP) — The repeal of Ohio’s collective bargaining law has no immediate credit impact on the state or its local governments, according to an analysis by a top ratings agency.

More than 61 percent of voters rejected the law in last week’s election. The measure restricted the collective bargaining rights of Ohio’s more than 350,000 teachers, firefighters, state employees and other public workers. Among other provisions, public employees would have been required to pay at least 15 percent of their health insurance.

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