U.S. state credit ratings (for general obligation or issuer credit) are assigned by the major agencies S&P Global Ratings, Moody’s, and Fitch. Most states hold high investment-grade ratings (AAA/Aaa or AA/Aa range), reflecting strong fiscal positions overall; Illinois remains the lowest-rated.
spglobal.com
Ratings can change and outlooks (Stable, Positive, Negative) matter. Full current lists from the agencies are often behind paywalls or require accounts. Data below draws from S&P’s list as of September 1, 2026 (partial public details), Wikipedia’s compiled table (with some 2022–2026 updates), recent agency actions, and news reports through late October 2026. Montana is often not rated (N.R.) by S&P.
spglobal.com
Key recent updates (2026)Illinois: S&P raised to A/Stable (from A-) on Sept. 1, 2026; Moody’s raised to A1 in August 2026. It remains the lowest-rated state.
bondbuyer.com
S&P Global Ratings (as of ~Sept. 1, 2026, partial public details + supporting sources)Many states are AAA or high AA. Approximate distribution and examples:AAA / Stable (examples): Delaware, Florida, Georgia, Indiana, Iowa, Maryland, Minnesota, Missouri, Nebraska, North Carolina, Ohio, South Dakota, Tennessee, Texas, Utah, Virginia.
spglobal.com
AA+ / Stable (examples): Arkansas, Hawaii, Idaho, Nevada, New Hampshire, New York, North Dakota, Oklahoma, Oregon, and others.AA / Stable (examples): Alabama, Alaska, Arizona, Colorado, Michigan, Mississippi, New Mexico, and others.AA- / Stable (examples): California, Connecticut (Positive outlook more recently).A+ (examples): New Jersey, Kentucky, Pennsylvania.A / Stable: Illinois.N.R.: Montana (S&P).
Approximate ratings from other agencies (compiled from available sources; older base data updated where known)Wikipedia’s table (primarily mid-2020s data with selective updates) and news provide cross-checks. Moody’s uses Aaa/Aa1/etc.; Fitch uses AAA/AA+/etc.
en.wikipedia.org
State
Typical range (S&P / Moody’s / Fitch)
Notes
Illinois
A / A1 / A or similar
Lowest; recent upgrades