State of California — California’s Issuer Default Rating (IDR) and GO bond rating incorporate adequate financial flexibility and a large, diverse economy supporting strong, albeit volatile, revenue growth prospects, solid ability to manage expenses through economic cycles, and moderately low long-term liabilities. California’s ability to actively mitigate budgetary liabilities and rebuild dedicated operating reserves remains a salient rating consideration.
Mon 28 Sep, 2026 – 12:16 PM ET