Thirteen states hold a AAA S&P credit rating in 2011
NEW YORK, New York: Last week, the federal government experienced its first ever Standard & Poor's credit downgrade. As it stands, many states are now in better credit standing than Washington D.C.
According to a recent report by Stateline, 13 states currently hold an S&P AAA credit rating:
Along with the federal government, two states have been downgraded this year. New Jersey holds the third-lowest ranking with a AA- rating, and Nevada was recently downgraded from a AA+ to a AA. The states with the lowest credit ratings are currently Illinois and California. Illinois is rated at A+, California A-.
The rating scale in its entirety is as follows: AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, BB+, BB, BB-, B+, B, B-, CCC+, CCC, CCC-, CC, C, D.