State credit ratings

The table below lists state credit ratings from 2004 to 2014. Credit rating agencies, such as Standard and Poor's, assign grades to states that take into account a state's ability to pay debts and the general health of the state's economy.

Generally speaking, a higher credit rating indicates lower interest costs on the general obligation bonds states sometimes sell to investors in order to finance large-scale undertakings (e.g., road construction and other public works projects). This, in turn, results in lower interest costs, thereby lowering the cost to taxpayers. If a state receives a lower ranking, or its credit rating is downgraded, the cost of borrowing money goes up, which can negatively affect a state budget and economic growth.^[1][2][3]

Credit ratings by state

In 2014, Stateline, a publication of the Pew Charitable Trusts, released a listing of Standard and Poor's credit ratings for each of the 50 states. The table below provides the credit ratings for each of the states from 2004 to 2014. Standard and Poor's grades range from AAA, the highest available, to BBB, the lowest.^[4]

State credit ratings, 2004 to 2014
State	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Alabama	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA
Alaska	AAA	AAA	AAA	AA+	AA+	AA+	AA+	AA	AA	AA	AA
Arizona	AA-	AA-	AA-	AA-	AA-	AA-	AA	AA	AA	AA	AA
Arkansas	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA
California	A	A	A-	A-	A-	A	A+	A+	A+	A	A
Colorado	AA	AA	AA	AA	AA	AA	AA	AA	AA-	AA-	AA-
Connecticut	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA
Delaware	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
Florida	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AA+
Georgia	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
Hawaii	AA	AA	AA	AA	AA	AA	AA	AA	AA-	AA-	AA-
Idaho	AA+	AA+	AA+	AA+	AA	AA	AA	AA	AA	AA	AA
Illinois	A-	A-	A	A+	A+	A+	AA	AA	AA	AA	AA
Indiana	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AA+	AA+	AA	AA
Iowa	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AA+	AA+	AA+	AA+
Kansas	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+
Kentucky	AA-	AA-	AA-	AA-	AA-	AA-	AA-	AA-	AA-	AA-	AA-
Louisiana	AA	AA	AA	AA	AA-	AA-	A+	A	A	A	A+
Maine	AA	AA	AA	AA	AA	AA	AA	AA	AA-	AA-	AA
Maryland	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
Massachusetts	AA+	AA+	AA+	AA	AA	AA	AA	AA	AA	AA	AA-
Michigan	AA-	AA-	AA-	AA-	AA-	AA-	AA-	AA-	AA	AA	AA+
Minnesota	AA+	AA+	AA+	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
Mississippi	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA
Missouri	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
Montana	AA	AA	AA	AA	AA	AA	AA	AA-	AA-	AA-	AA-
Nebraska	AAA	AAA	AAA	AAA	AA+	AA+	AA+	AA+	AA+	AA+	AA+
Nevada	AA	AA	AA	AA	AA+	AA+	AA+	AA+	AA+	AA	AA
New Hampshire	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA
New Jersey	A+	AA-	AA-	AA-	AA	AA	AA	AA	AA	AA	AA-
New Mexico	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+
New York	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA
North Carolina	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
North Dakota	AAA	AAA	AA+	AA+	AA+	AA+	AA	AA	AA	AA	AA-
Ohio	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+
Oklahoma	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA	AA	AA	AA
Oregon	AA+	AA+	AA+	AA+	AA	AA	AA	AA	AA-	AA-	AA-
Pennsylvania	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA
Rhode Island	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA	AA-
South Carolina	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AAA
South Dakota	AA+	AA+	AA+	AA+	AA	AA	AA	AA	AA
Tennessee	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA	AA
Texas	AAA	AAA	AA+	AA+	AA+	AA+	AA	AA	AA	AA	AA
Utah	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
Vermont	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+
Virginia	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA
Washington	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA	AA	AA
West Virginia	AA	AA	AA	AA	AA	AA	AA-	AA-	AA-	AA-	AA-
Wisconsin	AA	AA	AA	AA	AA	AA	AA	AA-	AA-	AA-	AA-
Wyoming	AAA	AAA	AAA	AAA	AA+	AA+	AA+	AA	AA	AA	AA
Source: Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014.

See also

• State budget and finance pages
• Glossary of state budget terms
• Pew Charitable Trusts

External links

Additional reading

• Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014

Footnotes