articles Ratings /ratings/en/research/articles/190319-history-of-u-s-state-ratings-2185306 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List
COMMENTS

History Of U.S. State Ratings

COMMENTS

Credit FAQ: The Key Sovereign Rating Considerations For Brazil Amid COVID-19

COMMENTS

COVID-19 Impact: Key Takeaways From Our Articles

COMMENTS

Report Card: COVID-19 Casts Cloud Over Rated Irish Corporates’ Performance Gains

COMMENTS

COVID-19- And Oil Price-Related Public Rating Actions On Corporations, Sovereigns, And Project Finance To Date


History Of U.S. State Ratings

S&P Global Ratings State Ratings History
As of Sept. 1, 2020
State Date Action Rating Outlook/Watch

Alabama

Oct. 7, 2004 Outlook change AA Stable
Nov. 20, 2003 Outlook change AA Negative
Feb. 7, 1992 Outlook assigned AA Stable
March 9, 1976 Rating upgrade AA
March 8, 1968 Rating withdrawn NR
Dec. 31, 1960 Initial rating AA

Alaska

April 17, 2020 Rating downgrade AA- Negative
June 8, 2018 Outlook change AA Stable
July 18, 2017 Rating downgrade AA Negative
June 20, 2017 On CreditWatch AA+ Watch Neg
Oct. 27, 2016 Off CreditWatch AA+ Negative
Oct. 7, 2016 On CreditWatch AA+ Watch Neg
Aug. 22, 2016 Off CreditWatch AA+ Negative
June 9, 2016 On CreditWatch AA+ Watch Neg
Jan. 5, 2016 Rating downgrade AA+ Negative
Aug. 18, 2015 Outlook change AAA Negative
Jan. 5, 2012 Rating upgrade AAA Stable
March 27, 2008 Rating upgrade AA+ Stable
Mar. 20, 2003 Rating change AA Stable
Jan. 21, 2000 Rating change NR
Aug. 5, 1992 Rating upgrade AA Stable
June 14, 1980 Rating upgrade AA-
Jan. 23, 1975 Rating upgrade A+
June 4, 1971 Initial rating A

Arizona

May 20, 2015 Rating upgrade AA Stable
Nov. 26, 2013 Outlook change AA- (ICR) Positive
Dec. 21, 2011 Outlook change AA- (ICR) Stable
Dec. 23, 2009 Rating downgrade AA- (ICR) Negative
Aug. 19, 2009 Outlook change AA (ICR) Negative
Aug. 24, 2004 Initial rating AA (ICR) Stable
June 19, 2002 Outlook change AA- Negative
March 15, 2002 Rating change AA- Stable
Feb. 7, 1957 Rating change NR

Arkansas

July 24, 1991 Outlook assigned AA Stable
July 11, 1985 Rating upgrade AA
Aug. 14, 1972 Rating withdrawn NR
Jan. 25, 1966 Initial rating AA

California

July 2, 2015 Rating upgrade AA- Stable
May 21, 2015 On CreditWatch A+ Watch Pos
Nov. 5, 2014 Rating upgrade A+ Stable
Jan. 14, 2014 Outlook change A Positive
Jan. 31, 2013 Rating upgrade A Stable
Feb. 14, 2012 Outlook change A- Positive
July 7, 2011 Outlook change A- Stable
Jan. 13, 2010 Rating downgrade A- Negative
Aug. 18, 2009 Off CreditWatch A Negative
June 15, 2009 On CreditWatch A Watch Neg
Feb. 2, 2009 Rating downgrade A Stable
Dec. 10, 2008 On CreditWatch A+ Watch Neg
Oct. 21, 2008 Off CreditWatch A+ Stable
Oct. 10, 2008 On CreditWatch A+ Watch Neg
Nov. 20, 2007 Outlook change A+ Stable
June 11, 2007 Outlook change A+ Positive
May 17, 2006 Rating upgrade A+ Stable
Aug. 24, 2004 Rating upgrade A Stable
March 3, 2004 On CreditWatch BBB Watch Pos
July 24, 2003 Rating downgrade BBB Stable
July 2, 2003 On CreditWatch A Watch Neg
Dec. 19, 2002 Rating downgrade A Stable
June 28, 2001 Off CreditWatch A+ Negative
April 24, 2001 Rating downgrade A+ Watch Neg
Jan. 19, 2001 On CreditWatch AA Watch Neg
Sept. 7, 2000 Rating upgrade AA Stable
Aug. 10, 1999 Rating upgrade AA- Stable
July 30, 1996 Rating upgrade A+ Stable
July 15, 1994 Rating downgrade A Stable
Feb. 9, 1994 Outlook change A+ Negative
July 15, 1992 Rating downgrade A+ Stable
April 28, 1992 Outlook change AA Negative
Dec. 13, 1991 Rating downgrade AA Stable
Aug. 5, 1991 Outlook assigned AAA Negative
July 25, 1986 Rating upgrade AAA
Feb. 20, 1985 Rating upgrade AA+
Jan. 21, 1983 Rating downgrade AA
Jan. 22, 1980 Rating downgrade AA+
May 3, 1968 Initial rating AAA

Colorado

June 7, 2018 Outlook change AA (ICR) Stable
Nov. 16, 2017 Outlook change AA (ICR) Negative
July 10, 2007 Rating change AA (ICR) Stable
Current lease AA- Stable
Jan. 9, 2004 Outlook change AA- Stable
Nov. 6, 2002 Outlook change AA- Negative
June 26, 2002 Rating downgrade AA- Stable
Jan. 4, 2002 On CreditWatch AA Watch Neg
Dec. 21, 2001 Rating change AA Stable
Feb. 6, 1956 Rating change NR

Connecticut

April 2, 2020 Outlook change A Stable
March 19, 2019 Outlook change A Positive
April 13, 2018 Rating downgrade A Stable
Oct. 13, 2017 Outlook change A+ Negative
May 17, 2017 Rating downgrade A+ Stable
Nov. 30, 2016 Outlook change AA- Negative
May 19, 2016 Rating downgrade AA- Stable
March 9, 2015 Outlook change AA Negative
Sept. 26, 2003 Outlook change AA Stable
Aug. 16, 2002 Outlook change AA Negative
Oct. 8, 1998 Rating upgrade AA Stable
Aug. 7, 1997 Outlook change AA- Positive
Sept. 13, 1991 Rating downgrade AA- Stable
March 29, 1990 Rating downgrade AA
June 13, 1986 Rating upgrade AA+
Nov. 24, 1984 Rating upgrade AA
Aug. 26, 1981 Rating downgrade AA-
June 5, 1975 Rating downgrade AA
July 9, 1963 Initial rating AAA

Delaware

Feb. 22, 2000 Rating upgrade AAA Stable
March 25, 1988 Rating upgrade AA+ Stable
June 10, 1981 Rating upgrade AA
Aug. 16, 1979 Rating upgrade AA-
March 21, 1977 Rating downgrade A+
June 25, 1971 Rating downgrade AA
July 9, 1963 Initial rating AAA

Florida

July 12, 2011 Outlook change AAA Stable
Jan. 14, 2009 Outlook change AAA Negative
Feb. 25, 2005 Rating upgrade AAA Stable
April 3, 1997 Rating upgrade AA+ Stable
May 28, 1991 Outlook assigned AA Stable
June 11, 1968 Initial rating AA

Georgia

July 29, 1997 Rating upgrade AAA Stable
May 2, 1995 Outlook change AA+ Positive
Feb. 25, 1992 Outlook assigned AA+ Stable
March 6, 1986 Rating upgrade AA+
Aug. 5, 1974 Initial rating AA

Hawaii

April 20, 2020 Outlook revision AA+ Negative
Sept. 12, 2016 Rating upgrade AA+ Stable
March 1, 2016 Outlook change AA Positive
Oct. 22, 2014 Outlook change AA Stable
Oct. 9, 2013 Outlook change AA Positive
Jan. 29, 2007 Rating upgrade AA Stable
May 13, 2005 Outlook change AA- Positive
Feb. 5, 2002 Outlook change AA- Stable
Oct. 3, 2001 On CreditWatch AA- Watch Neg
July 17, 2001 Rating upgrade AA- Stable
Oct. 3, 2000 Outlook change A+ Positive
March 21, 1997 Rating downgrade A+ Stable
Dec. 11, 1996 On CreditWatch AA Watch Neg
Aug. 28, 1996 Outlook change AA Stable
Aug. 31, 1995 Outlook change AA Negative
Feb. 23, 1993 Outlook assigned AA Stable
March 5, 1968 Initial rating AA

Idaho

March 29, 2011 Rating upgrade AA+ (ICR) Stable
July 20, 2009 Outlook change AA (ICR) Stable
June 20, 2008 Outlook change AA (ICR) Positive
July 26, 2007 Rating change AA (ICR) Stable
March 18, 1987 Rating change NR
March 26, 1980 Rating change AA
June 4, 1970 Rating withdrawn NR
May 10, 1963 Rating upgrade AA
March 10, 1958 Initial rating A+

Illinois

April 3, 2020 Outlook change BBB- Negative
July 12, 2017 Off CreditWatch BBB- Stable
June 1, 2017 Rating downgrade BBB- Watch Neg
Sept. 30, 2016 Rating downgrade BBB Negative
June 9, 2016 Rating downgrade BBB+ Negative
Dec. 23, 2015 Off CreditWatch A- Negative
May 8, 2015 On CreditWatch A- Watch Neg
July 23, 2014 Outlook change A- Negative
Dec. 10, 2013 Outlook change A- Developing
Jan. 25, 2013 Rating downgrade A- Negative
Aug. 29, 2012 Rating downgrade A Negative
Jan. 25, 2011 Off CreditWatch A+ Negative
March 26, 2010 On CreditWatch A+ Watch Neg
Dec. 10, 2009 Rating downgrade A+ Negative
Aug. 19, 2009 Outlook change AA- Negative
March 10, 2009 Rating downgrade AA- Stable
Dec, 10, 2008 On CreditWatch AA Watch Neg
Aug. 16, 2005 Outlook change AA Stable
May 13, 2003 Outlook change AA Negative
Jan. 29, 2002 Outlook change AA Stable
June 8, 2000 Outlook change AA Positive
July 17, 1997 Rating upgrade AA Stable
Aug. 27, 1996 Outlook change AA- Positive
Aug. 7, 1992 Rating downgrade AA- Stable
Feb. 3, 1992 Outlook change AA Negative
Aug. 2, 1991 Rating downgrade AA Stable
May 14, 1991 On CreditWatch AA+ Watch Neg
March 17, 1983 Rating downgrade AA+
Feb. 16, 1979 Initial rating AAA

Indiana

July 18, 2008 Rating upgrade AAA (ICR) Stable
Jan. 23, 2006 Rating upgrade AA+ (ICR) Stable
June 29,2005 Outlook change AA (ICR) Positive
Jan. 20, 2004 Rating downgrade AA (ICR) Stable
Jan. 18, 2002 Outlook change AA+ (ICR) Negative
Dec. 18, 1997 Initial rating AA+ (ICR) Stable

Iowa

Sept. 11, 2008 Rating upgrade AAA (ICR) Stable
Oct. 5, 2001 Rating change AA+ (ICR) Stable
Aug. 27, 1974 Rating withdrawn NR
May 14, 1963 Initial rating AAA

Kansas

May 4, 2018 Outlook change AA- (ICR) Stable
Feb. 8, 2017 Outlook change AA- (ICR) Negative
July 26, 2016 Rating downgrade AA- (ICR) Stable
April 25, 2016 On CreditWatch AA (ICR) Watch Neg
Aug. 6, 2014 Rating downgrade AA (ICR) Negative
July 20, 2005 Outlook change AA+ (ICR) Stable
Aug. 7, 2002 Outlook change AA+ (ICR) Negative
Oct. 10, 1997 Rating change AA+ (ICR) Stable
Feb. 7, 1956 Initial rating NR

Kentucky

May 18, 2018 Rating downgrade A (ICR) Stable
Jan. 11, 2017 Outlook change A+ (ICR) Negative
Sept. 3, 2015 Rating downgrade A+ (ICR) Stable
Jan. 31, 2013 Outlook change AA- (ICR) Negative
June 23, 2009 Outlook change AA- (ICR) Stable
Jan. 18, 2007 Outlook change AA- (ICR) Positive
Oct. 9, 2002 Rating downgrade AA- (ICR) Stable
June 7, 2002 On CreditWatch AA (ICR) Watch Neg
Oct. 26, 2001 Outlook change AA (ICR) Negative
March 11, 1997 Rating change AA (ICR) Stable
Aug. 1, 1995 Rating withdrawn NR
Jan. 5, 1966 Initial rating AA

Louisiana

Aug. 24, 2018 Outlook revision AA- Stable
March 15, 2017 Rating downgrade AA- Negative
Feb. 13, 2015 Outlook change AA Negative
May 4, 2011 Rating upgrade AA Stable
Oct. 9, 2009 Rating upgrade AA- Stable
July 1, 2008 Rating upgrade A+ Stable
Aug. 24, 2006 Outlook change A Stable
Nov. 30, 2005 Rating downgrade A Negative
Aug. 29, 2005 Outlook change A+ Watch Neg
April 29, 2003 Rating upgrade A+ Stable
Nov. 20, 2000 Rating upgrade A Stable
March 14, 1997 Outlook change A- Stable
July 17, 1995 Rating downgrade A- Negative
Feb. 15, 1995 On CreditWatch A Watch Neg
Dec. 19, 1990 Rating upgrade A Stable
Feb. 12, 1988 Rating downgrade BBB+
Feb. 11, 1987 Rating downgrade A-
April 3, 1986 Rating downgrade A
Dec. 13, 1984 Rating downgrade AA-
Aug. 12, 1969 Rating upgrade AA
Sept. 11, 1968 Initial rating A

Maine

May 24, 2012 Outlook change AA Stable
March 10, 2010 Outlook change AA Negative
May 14, 2007 Rating upgrade AA Stable
May 31, 2005 Rating downgrade AA- Stable
May 27, 2004 Rating downgrade AA Stable
Nov. 13, 2002 Outlook change AA+ Negative
March 29, 1994 Outlook change AA+ Stable
Feb. 10, 1992 Outlook change AA+ Negative
June 6, 1991 Rating downgrade AA+ Stable
Oct. 22, 1978 Initial rating AAA

Maryland

May 7, 1992 Outlook assigned AAA Stable
Jan. 16, 1961 Initial rating AAA

Massachusetts

June 9, 2017 Rating downgrade AA Stable
Nov. 23, 2015 Outlook change AA+ Negative
Sept. 16, 2011 Rating upgrade AA+ Stable
Feb. 7, 2011 Outlook change AA Positive
March 15, 2005 Rating upgrade AA Stable
Oct. 23, 2001 Outlook change AA- Stable
Jan. 14, 2000 Outlook change AA- Positive
Oct. 29, 1997 Rating upgrade AA- Stable
Nov. 15, 1994 Outlook change A+ Positive
Oct. 13, 1993 Rating upgrade A+ Stable
Sept. 9, 1992 Rating upgrade A Stable
Dec. 13, 1989 Rating downgrade BBB
July 19, 1989 Rating downgrade A
June 27, 1989 Rating downgrade AA-
May 17, 1989 Rating downgrade AA
Feb. 9, 1988 Rating upgrade AA+
June 27, 1984 Rating upgrade AA
May 20, 1980 Rating downgrade AA-
June 24, 1975 Rating downgrade AA
Nov. 14, 1968 Initial rating AAA

Michigan

July 14, 2020 Outlook revision AA Negative
July 23, 2018 Rating upgrade AA Stable
Sept. 5, 2017 Outlook change AA- Positive
March 17, 2016 Outlook change AA- Stable
July 20, 2015 Outlook change AA- Positive
June 17, 2014 Outlook change AA- Stable
April 2, 2013 Outlook change AA- Positive
May 22, 2007 Rating downgrade AA- Stable
Aug. 9, 2006 Outlook change AA Negative
March 30, 2005 Rating downgrade AA Stable
Dec. 30, 2003 Rating downgrade AA+ Stable
Nov. 3, 2003 On CreditWatch AAA Watch Neg
Mar. 17, 2003 Outlook change AAA Negative
Sept. 27, 2000 Rating upgrade AAA Stable
Jan. 20, 1998 Rating upgrade AA+ Stable
March 22, 1994 Outlook change AA Stable
June 2, 1992 Outlook assigned AA Negative
Oct. 23, 1989 Rating upgrade AA
April 24, 1986 Rating upgrade AA-
June 9, 1980 Rating downgrade A+
Sept. 22, 1976 Rating downgrade AA-
Nov. 30, 1959 Initial rating AAA

Minnesota

Aug. 3, 2020 Outlook revision AAA Negative
July 25, 2018 Rating upgrade AAA Stable
June 30, 2017 Off CreditWatch AA+ Stable
June 15, 2017 On CreditWatch AA+ Watch Neg
Aug. 5, 2015 Outlook change AA+ Positive
Sept. 23, 2011 Rating downgrade AA+ Stable
July 24, 1997 Rating upgrade AAA Stable
May 2, 1996 Outlook change AA+ Positive
March 19, 1993 Outlook change AA+ Stable
June 10, 1992 Outlook change AA+ Negative
July 22, 1991 Outlook assigned AA+ Stable
Jan. 11, 1985 Rating upgrade AA+
March 5, 1982 Rating downgrade AA
July 22, 1981 Rating downgrade AA+
June 25, 1976 Rating upgrade AAA
Dec. 2, 1975 Rating withdrawn NR
Feb. 1, 1971 Initial rating AAA

Mississippi

Sept. 7, 2018 Outlook change AA Stable
May 1, 2017 Outlook change AA Negative
Nov. 30, 2005 Outlook change AA Stable
Aug. 29, 2005 Outlook change AA Watch Neg
Aug. 16, 1996 Rating upgrade AA Stable
April 18, 1994 Outlook change AA- Positive
Nov. 19, 1991 Outlook assigned AA- Stable
Oct. 17, 1977 Rating upgrade AA-
July 22, 1974 Rating upgrade A+
Feb. 21, 1974 Initial rating A

Missouri

Feb. 16, 1994 Outlook change AAA Stable
July 2, 1992 Outlook assigned AAA Negative
May 2, 1962 Rating change AAA

Montana

May 5, 2008 Rating upgrade AA Stable
June 28, 2007 Outlook change AA- Positive
Feb. 15, 1994 Outlook change AA- Stable
Aug. 26, 1992 Outlook assigned AA- Negative
Oct. 22, 1986 Rating downgrade AA-
Jan. 31, 1975 Initial rating AA

Nebraska

May 5, 2011 Rating upgrade AAA (ICR) Stable
Oct. 11, 2006 Initial rating AA+ (ICR) Stable

Nevada

April 20, 2020 Outlook revision AA+ Negative
Nov. 7, 2019 Rating upgrade AA+ Stable
Sept. 20, 2018 Outlook revision AA Positive
March 10, 2011 Rating downgrade AA Stable
June 23, 2006 Rating upgrade AA+ Stable
March 10, 2005 Outlook change AA Positive
July 11, 1986 Rating change AA Stable

New Hampshire

April 2, 2020 Outlook change AA Stable
Feb. 12, 2020 Outlook change AA Positive
Dec. 8, 2014 Outlook change AA Stable
April 21, 2014 Outlook change AA Negative
Dec. 4, 2003 Rating downgrade AA Stable
Nov. 22, 1995 Rating upgrade AA+ Stable
Nov. 29, 1993 Outlook change AA Positive
June 14, 1991 Outlook assigned AA Stable
May 2, 1986 Rating upgrade AA+
Jan. 18, 1985 Rating upgrade AA
Aug. 5, 1983 Rating upgrade AA-
Oct. 2, 1970 Rating withdrawn NR
July 22, 1963 Initial rating AAA

New Jersey

April 29, 2020 Outlook change A- Negative
Aug. 25, 2017 Outlook change A- Stable
Nov. 14, 2016 Rating downgrade A- Negative
March 22, 2016 Outlook revision A Negative
Sept. 10, 2014 Rating downgrade A Stable
June 2, 2014 On CreditWatch A+ Watch Neg
April 9, 2014 Rating downgrade A+ Stable
Sept. 18, 2012 Outlook revision AA- Negative
Feb. 9, 2011 Rating downgrade AA- Stable
July 19, 2005 Rating upgrade AA Stable
July 27, 2004 Rating downgrade AA- Stable
June 4, 2002 Rating downgrade AA Stable
Jan. 11, 2002 On CreditWatch AA+ Watch Neg
July 26, 1994 Outlook change AA+ Stable
July 13, 1992 Off CreditWatch AA+ Negative
June 8, 1992 On CreditWatch AA+ Watch Neg
July 3, 1991 Rating downgrade AA+ Stable
Feb. 2, 1961 Initial rating AAA

New Mexico

May 19, 2020 Outlook change AA Negative
Sept. 12, 2018 Outlook change AA Stable
Nov. 10, 2016 Rating downgrade AA Negative
Nov. 26, 2014 Outlook change AA+ Negative
Feb. 5, 1999 Outlook change AA+ Stable
Feb. 6, 1997 Outlook change AA+ Negative
Oct. 25, 1993 Rating upgrade AA+ Stable
April 16, 1992 Outlook assigned AA Stable
May 23, 1980 Initial rating AA

New York

July 23, 2014 Rating upgrade AA+ Stable
Aug. 27, 2012 Outlook change AA Positive
Sept. 21, 2004 Outlook change AA Stable
May 16, 2003 Outlook change AA Negative
Dec. 19, 2000 Rating upgrade AA Stable
Nov. 9, 1999 Rating upgrade A+ Stable
Aug. 28, 1997 Rating upgrade A Stable
Feb. 7, 1994 Outlook change A- Positive
April 26, 1993 Outlook change A- Stable
Jan. 6, 1992 Rating downgrade A- Negative
June 17, 1991 Outlook assigned A Negative
March 26, 1990 Rating downgrade A
Aug. 13, 1987 Rating upgrade AA-
Nov. 10, 1982 Rating downgrade A+
Dec. 4, 1979 Rating downgrade AA-
March 8, 1972 Rating downgrade AA
Nov. 29, 1962 Initial rating AAA

North Carolina

June 25, 1992 Outlook change AAA Stable
Sept. 19, 1991 Outlook assigned AAA Negative
Sept. 11, 1963 Initial rating AAA

North Dakota

Feb. 18, 2016 Rating downgrade AA+ (ICR) Stable
Dec. 13, 2013 Rating upgrade AAA (ICR) Stable
May 12, 2011 Outlook change AA+ (ICR) Positive
March 17, 2009 Rating upgrade AA+ (ICR) Stable
Sept. 16, 2005 Rating change AA (ICR) Stable
March 1, 2000 Rating change AA- Stable
Nov. 10, 1998 Rating change NR
Jan. 29, 1992 Outlook assigned AA- Stable
June 5, 1986 Rating downgrade AA-
July 8, 1982 Rating upgrade AA
Sept. 26, 1975 Rating withdrawn NR
Aug. 25, 1966 Initial rating AAA

Ohio

July 15, 2011 Outlook change AA+ Stable
Sept. 23, 2009 Outlook change AA+ Negative
July 9, 2003 Outlook change AA+ Stable
June 4, 2002 Outlook change AA+ Negative
Aug. 14, 1996 Rating upgrade AA+ Stable
Nov. 27, 1991 Outlook assigned AA Stable
Sept. 5, 1984 Initial rating AA

Oklahoma

May 11, 2020 Outlook revision AA Negative
March 1, 2017 Rating downgrade AA Stable
April 6, 2016 Outlook revision AA+ Negative
Sept. 5, 2008 Rating upgrade AA+ Stable
July 29, 1992 Outlook assigned AA Stable
July 26, 1989 Rating upgrade AA
Aug. 3, 1977 Rating withdrawn NR
Dec. 8, 1971 Rating upgrade AA
July 15, 1971 Rating withdrawn NR
Sept. 6, 1961 Initial rating AA

Oregon

March 9, 2011 Rating upgrade AA+ Stable
Aug. 23, 2007 Rating upgrade AA Stable
April 10, 2007 Outlook change AA- Positive
Oct. 8, 2003 Rating downgrade AA- Stable
Sept. 30, 2002 Outlook change AA Negative
Sept. 9, 1996 Rating upgrade AA Stable
Sept. 10, 1995 Outlook change AA- Positive
Sept. 9, 1992 Outlook change AA- Negative
Sept. 16, 1991 Outlook assigned AA- Stable
Aug. 2, 1989 Rating upgrade AA-
Dec. 9, 1985 Rating downgrade A+
July 21, 1980 Rating downgrade AA
Jan. 5, 1979 Rating upgrade AA+
March 28, 1971 Initial rating AA

Pennsylvania

Sept. 1, 2020 Outlook change A+ Negative
Sept. 20, 2017 Rating downgrade A+ Stable
July 6, 2017 On CreditWatch AA- Watch Neg
July 19, 2016 Off CreditWatch AA- Negative
July 11, 2016 On CreditWatch AA- Watch Neg
March 24, 2016 Off CreditWatch AA- Negative
March 3, 2016 On CreditWatch AA- Watch Neg
Sept. 25, 2014 Rating downgrade AA- Stable
July 19, 2012 Outlook change AA Negative
Nov. 6, 1998 Rating upgrade AA Stable
Sept. 3, 1991 Outlook assigned AA- Stable
Oct. 4, 1985 Rating upgrade AA-
June 14, 1978 Rating downgrade A+
March 31, 1969 Rating downgrade AA
March 23, 1962 Initial rating AAA

Rhode Island

June 18, 2014 Off CreditWatch AA Stable
May 12, 2014 On CreditWatch AA Watch Neg
April 22, 2011 Outlook change AA Stable
March 9, 2009 Outlook change AA Negative
Nov. 2, 2005 Rating upgrade AA Stable
March 14, 2002 Outlook change AA- Stable
July 10, 2001 Outlook change AA- Positive
June 28, 1991 Rating downgrade AA- Stable
March 27, 1986 Rating upgrade AA
May 24, 1982 Rating downgrade AA-
Dec. 15, 1977 Rating change AA
June 24, 1977 Rating change NR
March 13, 1961 Initial rating AA

South Carolina

July 11, 2005 Rating downgrade AA+ Stable
Feb. 22, 2005 On CreditWatch AAA Watch Neg
July 9, 1996 Rating upgrade AAA Stable
Jan. 9, 1995 Outlook change AA+ Positive
Jan. 29, 1993 Rating downgrade AA+ Stable
Mar. 10, 1992 On CreditWatch AAA Watch Neg
Aug. 19, 1991 Outlook assigned AAA Negative
Aug. 28, 1963 Initial rating AAA

South Dakota

May 4, 2015 Rating upgrade AAA (ICR) Stable
Aug. 1, 2014 Outlook change AA+ (ICR) Positive
March 25, 2011 Rating upgrade AA+ (ICR) Stable
Dec. 21, 2006 Initial rating AA (ICR) Stable

Tennessee

May 26, 2016 Rating upgrade AAA Stable
Oct. 22, 2015 Outlook change AA+ Positive
Nov. 4, 2013 Outlook change AA+ Stable
May 5, 2011 Outlook change AA+ Positive
Oct. 12, 2006 Rating upgrade AA+ Stable
June 21, 2004 Outlook change AA Stable
July 11, 2002 Off CreditWatch AA Negative
Jan. 25, 2002 On CreditWatch AA Watch Neg
July 12, 2001 Rating downgrade AA Negative
June 29, 2000 Rating downgrade AA+ Negative
May 3, 2000 On CreditWatch AAA Watch Neg
May 1, 1998 Rating upgrade AAA Stable
March 14, 1994 Outlook change AA+ Positive
June 13, 1991 Outlook assigned AA+ Stable
March 27, 1980 Rating upgrade AA+
Jan. 3, 1974 Initial rating AA

Texas

Sept. 27, 2013 Rating Upgrade AAA (ICR) Stable
Aug. 10, 2009 Rating upgrade AA+ (ICR) Stable
Aug. 23, 1999 Outlook change AA Stable
June 17, 1996 Outlook change AA Positive
Aug. 14, 1987 Outlook assigned AA Stable
June 10, 1986 Rating downgrade AA+
Oct. 19, 1961 Initial rating AAA

Utah

June 7, 1991 Outlook change AAA Stable
June 4, 1965 Initial rating AAA

Vermont

Nov. 10, 2014 Outlook revision AA+ Stable
Sept. 17, 2012 Outlook revision AA+ Positive
Sept. 11, 2000 Rating upgrade AA+ Stable
Oct. 14, 1998 Rating upgrade AA Stable
June 10, 1991 Outlook assigned AA- Stable
April 25, 1986 Rating upgrade AA
Oct. 16, 1973 Rating withdrawn NR
Feb. 28, 1973 Rating upgrade AA
March 23, 1971 Rating withdrawn NR
Oct. 2, 1963 Initial rating AAA

Virginia

June 8, 2018 Outlook change AAA Stable
April 20, 2017 Outlook change AAA Negative
Nov. 11, 1992 Outlook change AAA Stable
Oct. 31, 1991 Outlook assigned AAA Negative
March 8, 1962 Initial rating AAA

Washington

Nov. 13, 2007 Rating upgrade AA+ Stable
Jan. 22, 2007 Outlook change AA Positive
Jan. 29, 2004 Rating downgrade AA Stable
July 15, 2002 Off CreditWatch AA+ Negative
March 19, 2002 On CreditWatch AA+ Watch Neg
July 8, 1997 Rating upgrade AA+ Stable
June 21, 1996 Outlook change AA Positive
March 2, 1993 Outlook change AA Stable
Aug. 12, 1991 Outlook assigned AA Positive
July 24, 1986 Rating upgrade AA
Jan. 25, 1982 Rating downgrade AA-
Oct. 19, 1981 Rating downgrade AA
Nov. 25, 1975 Rating upgrade AA+
March 25, 1970 Rating upgrade AA
Nov. 6, 1969 Initial rating A

West Virginia

April 21, 2016 Rating downgrade AA- Stable
Aug. 20, 2009 Rating upgrade AA Stable
May 17, 1996 Rating upgrade AA- Stable
July 10, 1992 Outlook assigned A+ Positive
March 31, 1988 Rating downgrade A+
April 25, 1985 Rating downgrade AA-
July 20, 1976 Rating upgrade AA+
July 23, 1963 Initial rating AA

Wisconsin

Aug. 15, 2008 Rating upgrade AA Stable
Nov. 13, 2007 Outlook change AA- Stable
Nov. 9, 2005 Outlook change AA- Positive
May 24, 2002 Rating downgrade AA- Stable
Jan. 23, 2002 On CreditWatch AA Watch Neg
Aug. 28, 2001 Outlook change AA Negative
Feb. 16, 2000 Outlook change AA Stable
May 22, 1997 Outlook change AA Positive
Oct. 20, 1992 Outlook assigned AA Stable
April 6, 1983 Rating downgrade AA
May 21, 1981 Rating downgrade AA+
Feb. 20, 1973 Initial rating AAA

Wyoming

June 19, 2020 Rating downgrade AA Stable
May 3, 2017 Rating downgrade AA+ Stable
Feb. 4, 2016 Outlook change AAA Negative
May 3, 2011 Rating upgrade AAA (ICR) Stable
June 30, 2008 Rating upgrade AA+ (ICR) Stable
Dec. 2, 1998 Initial rating AA (ICR) Stable
ICR-Issuer credit rating. All other ratings are for the state’s general obligation debt. Ratings for other debt issued by the state will vary based on the security backing the bonds. *-2001 criteria revision resulted in upgrade.

This report does not constitute a rating action.

Primary Credit Analyst:Sussan S Corson, New York (1) 212-438-2014;
sussan.corson@spglobal.com
Secondary Contact:Geoffrey E Buswick, Boston (1) 617-530-8311;
geoffrey.buswick@spglobal.com

No content (including ratings, credit-related analyses and data, valuations, model, software or other application or output therefrom) or any part thereof (Content) may be modified, reverse engineered, reproduced or distributed in any form by any means, or stored in a database or retrieval system, without the prior written permission of Standard & Poor’s Financial Services LLC or its affiliates (collectively, S&P). The Content shall not be used for any unlawful or unauthorized purposes. S&P and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively S&P Parties) do not guarantee the accuracy, completeness, timeliness or availability of the Content. S&P Parties are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, for the results obtained from the use of the Content, or for the security or maintenance of any data input by the user. The Content is provided on an “as is” basis. S&P PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, THAT THE CONTENT’S FUNCTIONING WILL BE UNINTERRUPTED OR THAT THE CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event shall S&P Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the Content even if advised of the possibility of such damages.

Credit-related and other analyses, including ratings, and statements in the Content are statements of opinion as of the date they are expressed and not statements of fact. S&P’s opinions, analyses and rating acknowledgment decisions (described below) are not recommendations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. S&P assumes no obligation to update the Content following publication in any form or format. The Content should not be relied on and is not a substitute for the skill, judgment and experience of the user, its management, employees, advisors and/or clients when making investment and other business decisions. S&P does not act as a fiduciary or an investment advisor except where registered as such. While S&P has obtained information from sources it believes to be reliable, S&P does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives. Rating-related publications may be published for a variety of reasons that are not necessarily dependent on action by rating committees, including, but not limited to, the publication of a periodic update on a credit rating and related analyses.

To the extent that regulatory authorities allow a rating agency to acknowledge in one jurisdiction a rating issued in another jurisdiction for certain regulatory purposes, S&P reserves the right to assign, withdraw or suspend such acknowledgment at any time and in its sole discretion. S&P Parties disclaim any duty whatsoever arising out of the assignment, withdrawal or suspension of an acknowledgment as well as any liability for any damage alleged to have been suffered on account thereof.

S&P keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of S&P may have information that is not available to other S&P business units. S&P has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process.

S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P reserves the right to disseminate its opinions and analyses. S&P's public ratings and analyses are made available on its Web sites, www.standardandpoors.com (free of charge), and www.ratingsdirect.com and www.globalcreditportal.com (subscription), and may be distributed through other means, including via S&P publications and third-party redistributors. Additional information about our ratings fees is available at www.standardandpoors.com/usratingsfees.

Any Passwords/user IDs issued by S&P to users are single user-dedicated and may ONLY be used by the individual to whom they have been assigned. No sharing of passwords/user IDs and no simultaneous access via the same password/user ID is permitted. To reprint, translate, or use the data or information other than as provided herein, contact S&P Global Ratings, Client Services, 55 Water Street, New York, NY 10041; (1) 212-438-7280 or by e-mail to: research_request@spglobal.com.