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U.S. state credit ratings mostly stable as new budget year begins: Fitch

|By:, SA News Editor

Forty-six states start a new fiscal year on July 1, and the vast majority will do so with a stable rating outlook, Fitch Ratings says.

Pennsylvania and Illinois are the only states to have have negative ratings outlooks; and Hawaii is the sole state with a positive outlook, according to Fitch.

Only three U.S. states have Issuer Default Ratings below `AA' rating category--Connecticut (A+/Stable), New Jersey (A/Stable), and Illinois (BBB/Negative).

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