As the world’s fifth-largest economy, California enjoys a strong ‘AA-‘ credit rating on its general obligation (GO) debt. Just seven years ago, California’s ‘A-‘ GO rating was S&P Global Ratings’ lowest for any state. Better budget management that began in 2011 combined with an increase in personal income taxes–which drive much of the state’s revenues–have led to a gradual recovery in California
May 15, 2018