Public Finance Division

California's Current Credit Ratings

Since the credit rating is assigned to a specific debt-security issued by the State of California, the current credit ratings are shown below by debt type:

Type of Debt Fitch Ratings Moody's Investors Service Standard & Poor's
General Obligation A Aa3 A
Lease Revenue Bonds* A- A1 A-
Economic Recovery Bonds AA Aa2 AA
Revenue Anticipation Notes F1 MIG 1 SP-1+

*Does not include ratings for Public Works Board Bonds issued on behalf of the University of California or California State University

Comparison of Other States' General Obligation Bond Ratings

State Fitch Moody's S&P
Alabama AA+ Aa1 AA
Alaska AAA Aaa AAA
Arizona NR NR NR
Arkansas NR Aa1 AA
California A Aa3 A
Colorado NR NR NR
Connecticut AA Aa3 AA
Delaware AAA Aaa AAA
Florida AAA Aa1 AAA
Georgia AAA Aaa AAA
Hawaii AA Aa2 AA
Idaho NR NR NR
Illinois A- A3 A-
Indiana NR NR NR
Iowa NR NR NR
Kansas NR NR NR
Kentucky NR NR NR
Louisiana AA Aa2 AA
Maine AA Aa2 AA
Maryland AAA Aaa AAA
Massachusetts AA+ Aa1 AA+
Michigan AA Aa2 AA-
Minnesota AA+ Aa1 AA+
Mississippi AA+ Aa2 AA
Missouri AAA Aaa AAA
Montana AA+ Aa1 AA
Nebraska NR NR NR
Nevada AA+ Aa2 AA
New Hampshire AA+ Aa1 AA
New Jersey A A1 A
New Mexico NR Aaa AA+
New York AA+ Aa1 AA+
North Carolina AAA Aaa AAA
North Dakota NR NR NR
Ohio AA+ Aa1 AA+
Oklahoma AA+ Aa2 AA+
Oregon AA+ Aa1 AA+
Pennsylvania AA- Aa3 AA-
Rhode Island AA Aa2 AA
South Carolina AAA Aaa AA+
South Dakota NR NR NR
Tennessee AAA Aaa AA+
Texas AAA Aaa AAA
Utah AAA Aaa AAA
Vermont AAA Aaa AA+
Virginia AAA Aaa AAA
Washington AA+ Aa1 AA+
West Virginia AA+ Aa1 AA
Wisconsin AA Aa2 AA
Wyoming NR NR NR
TOTAL STATES RATED: 37 39 39

NR=Not Rated
Sources: Fitch Ratings, Moody's Investors Service, and Standard & Poor's