Pennsylvania’s credit rating has gone up by an international rater.
The commonwealth’s Fitch ratting has gone up to ‘AA’ from ‘AA-‘after using revenue surpluses to build the state reserve to record highs.
According to Fitch the rating has gone up due to “improved operating performances as well as low long-term liability burden and broad flexibility to manage.”
Fitch is the third global credit rating company to raise Pennsylvania’s credit score since September. The other two being Moody’s and S&Ps.