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 AA Aa2 AA-
Lease Revenue Bonds* AA- Aa3 A+

*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 A+ Aa3 AA-
Arizona* NR Aa1 AA
Arkansas NR Aa1 AA
California AA Aa2 AA-
Colorado* NR Aa1 AA
Connecticut A+ A1 A
Delaware AAA Aaa AAA
Florida AAA Aaa AAA
Georgia AAA Aaa AAA
Hawaii AA+ Aa2 AA+
Idaho* AA+ Aa1 AA+
Illinois BBB- Baa3 BBB-
Indiana* AA+ Aaa AAA
Iowa* AAA Aaa AAA
Kansas* NR Aa2 AA-
Kentucky* AA- Aa3 A
Louisiana AA- Aa3 AA-
Maine AA Aa2 AA
Maryland AAA Aaa AAA
Massachusetts AA+ Aa1 AA
Michigan AA Aa1 AA
Minnesota AAA Aa1 AAA
Mississippi AA Aa2 AA
Missouri AAA Aaa AAA
Montana AA+ Aa1 AA
Nebraska* NR NR AAA
Nevada AA+ Aa1 AA+
New Hampshire AA+ Aa1 AA
New Jersey A- A3 A-
New Mexico NR Aa2 AA
New York AA+ Aa1 AA+
North Carolina AAA Aaa AAA
North Dakota* NR Aa1 AA+
Ohio AA+ Aa1 AA+
Oklahoma AA Aa2 AA
Oregon AA+ Aa1 AA+
Pennsylvania AA- Aa3 A+
Rhode Island AA Aa2 AA
South Carolina AAA Aaa AA+
South Dakota* AAA Aaa AAA
Tennessee AAA Aaa AAA
Texas AAA Aaa AAA
Utah AAA Aaa AAA
Vermont AA+ Aa1 AA+
Virginia AAA Aaa AAA
Washington AA+ Aaa AA+
West Virginia AA Aa2 AA-
Wisconsin AA+ Aa1 AA
Wyoming* NR NR AA
TOTAL STATES RATED: 42 48 50

NR=Not Rated
*This state does not have general obligation (GO) debt outstanding; the state’s issuer credit rating is listed in place of a GO bond rating.
Sources: Fitch Ratings, Moody's Investors Service, and Standard & Poor's