Klotz on Bonds
It’s unanimous!
Following the lead of Moody’s and Standard & Poor’s (S&P), Fitch Ratings upgraded the rating of California General Obligation debt. Fitch raised its rating to A- from BBB.
California is now rated in the A category by three rating agencies, which had all dropped the state to BBB levels last year when California was experiencing a liquidity crisis.
The state is currently rated A3 by Moody’s Investor’s Service and A by S&P.
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