State credit ratings

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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

External links

Additional reading

Footnotes

  1. ↑ Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2012," July 13, 2012
  2. ↑ Bankrate.com, "The 6 states with the worst credit ratings," September 27, 2012
  3. ↑ Bankrate.com, "The 6 states with the worst credit ratings," accessed April 19, 2016
  4. ↑ Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014
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