Standard and Poor’s Upgrades Calif.’s Credit to ‘A+’
Following the approval of Proposition 2, which creates a state rainy day fund, Standard and Poor's raised California's credit rating from an "A" to an "A+." In a prepared statement, outgoing Treasurer Bill Lockyer said that the upgrade "rewards the state for the immense strides it has taken toward fiscal discipline and budget stability." However, California's credit rating still ranks 48th among all states, only beating News Jersey and Illinois, according to a Standard and Poor's spokesperson.
- "Standard and Poor's Upgrades California's Credit to A+" (Young, Sacramento Business Journal, 11/6).