California Rides Fiscal Tailwinds With Debt Rally

California Rides Fiscal Tailwinds With Debt Rally

Patrick Fallon/Bloomberg

S&P in January lifted the California’s credit one step to A, the sixth-highest level, raising it out of a tie with Illinois for the lowest-rated U.S. state. Fitch Ratings followed this month, changing its outlook on California to positive from stable, meaning it is in line for an increase.