Fitch Raises California to A on Brown’s ‘Sound’ Budgeting
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Fitch Ratings raised its grade for California’s bonds, citing its economic recovery and “timely, more structurally sound” budgets, leaving Illinois the lowest-scored by all three major ratings companies.
Fitch boosted the most-populous state debt one step to A, sixth-highest level, yesterday. It was the company’s first upgrade of California since 2010 and the state’s highest score from Fitch since 2009.