Fitch Rates California's $1.2 Billion GO Bonds 'AA'; Outlook Stable.

Fitch Ratings – New York – 13 Oct 2022: Fitch Ratings has assigned a ‘AA’ rating to $1.2 billion of various purpose general obligation (GO) refunding bonds to be issued by the state of California:

The bonds are scheduled to price by competitive bid on Oct. 26, 2022. Proceeds of the bonds will be used to refund outstanding GO bonds of the state for debt service savings and refund variable rate GO bonds to effect a favorable reorganization of the debt structure of the state.

The Rating Outlook is Stable.

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