California escapes the ratings cellar

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

Times business writer Marc Lifsher reports in the Money & Co. blog that California no longer has the worst credit rating in the country.

That distinction now goes to Illinois.

California, of course, still has a long way to go.

It is now ranked 49th among the states in creditworthiness by the Wall Street bond rating agency Standard & Poor’s.


On Thursday, the firm announced that it had hiked its evaluation of California’s long-term debt one notch from ‘A minus’ to ‘A.’

Lifsher reports that the California upgrade is the first by S&P since May 2006. But the state still has a long way to go to regain the agency’s top rating of “AAA.” California has not held that distinction since 1986.


State’s finances should improve, rating agency says

Rating agency sees fork in the road for California finances

Moody’s cuts one L.A. bond rating, considers raising another

-- Evan Halper

PHOTO: Gov. Jerry Brown speaks to lawmakers after giving his State of the State address in Sacramento on Jan. 24. Credit: Randall Benton/Sacramento Bee/MCT.