Following voter approval of a state rainy day fund, Standard and Poor’s raised California’s credit to an A+ stable rating on Wednesday, the state’s fourth upgrade by a credit ratings agency in the past two years. The rating was raised from A.
California’s credit is still ranked just 48th among states, however, beating only New Jersey and Illinois, noted a spokesman for Standard and Poor’s. Though it’s important to keep in mind that in 2010, the Golden State carried the nation’s worst credit rating.