Ben Schott had a great OP-CHART yesterday that I meant to get to — its a run of about 80 Country & all 50 State credit ratings:

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Click for full sized chart

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Source:
U.S.A.A.
Ben Schott
NYT, February 2, 2010

http://www.nytimes.com/interactive/2010/02/02/opinion/03schott_ready.html

Category: Credit

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

21 Responses to “Country & State Credit ratings”

  1. Kort says:

    Pennsylvania…an AA rating…yet talking about bankruptcy today. What’s it take to get a B (or an “F”).

    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aqIiEs4Ay_a0

  2. willid3 says:

    who gives the rating? the same rating agencies that helped created out latest and greatest mess? and can we see some businesses with their ratings too?

  3. taylorhr says:

    Shouldn’t China, by default of holding such enormous sums of US debt, have the same rating as the US?

  4. John says:

    To the extent these ratings are even somewhat accurate, it’s nice to know that California has the same rating as Libya and that it’s safer to lend to Botswana.

  5. rustum says:

    India is BBB-. Does it mean, it is safe to keep the Dollars than converting in India currency. India central bank is very nimble footed.

    Any idea on Gold and Silver technicals. What levels to watch out for.

  6. zebov says:

    How is California still in the “A” rating range?! Do these ratings agencies not realize that California is not even able to give out tax refunds because they have no money… much less pay debts?

  7. dsawy says:

    This chart shows again how utterly preposterous the “big three” credit rating agencies have become in their ratings. Does anyone believe that Florida is AAA material? Or that California should still be “A-anything?”

  8. scharfy says:

    Dude, any sovereign with a central bank should in actuality be AAA.

    Eh? You can’t default if you can print it.

  9. mckirkus says:

    “Pennsylvania…an AA rating…yet talking about bankruptcy today. ”

    Kort – If you read the article you link to you you’ll find that their rating makes sense:
    “Feb. 4 (Bloomberg) — Harrisburg, the capital of Pennsylvania, will consider Chapter 9 bankruptcy protection along with tax increases and asset sales as options to address $68 million in debt service payments due this year, the chairwoman of a City Council committee said last night. “

  10. jake103 says:

    scharfy:

    agree with one caveat…. any sovereign with a central bank THAT ISSUES DEBT IN ITS OWN CURRENCY should in actuality be AAA. you can default if you can print worthless notes while your debt is in notes worth something…

  11. mknowles says:

    yawn… lies…

  12. scharfy says:

    @jake103

    true..

  13. sinomania says:

    It’s an utterly meaningless list that does not even reflect where foreign direct investment flows are going. The USA as AAA? China rated less than Japan even though the latter has debts far in excess of GDP? I have seen the wonks who decide sovereign risk at Moody’s. What an ivory tower! (I turned down a job there). Compared to them professors are more aware of reality.

  14. torrie-amos says:

    please pass on by, nothing too look at it, all of em are highly rated, lol

    jeeze, what’s wrong in brazil, damned, iceland is even good, lol

  15. Exactly the hoped for responses !

  16. TakBak04 says:

    BR…these ratings seem kind of arbitrary…..check out Florida’s “Triple AAA” and yet we who read are hearing they are the next state in dire trouble after CA!

    Nevada…the same.

    I take heart that NC…My State…is listed as AAA…but I’m also aware that the Next Shoe to drop in NC is all the Construction Loans outstanding and the defaults from NC figuring that it would be the “NEW FLORIDA” and they did a building BOOM that still has to play out as to whether all those Boomers are gonna flock there and that folks in the already bust States of FLA/AZ, Nevada, Colorado…are going to be able to seel their homes there to come down to NC. And, it also depends on how PA,NY,CT,VT,NH and the rest are going to be able to cash out their homes to retire down in NC.

    Something about these charts and numbers and ratings just seemed to be hokey….sort of some “old model” and missing some financial info from latest statistics …but it was an interesting read.

  17. Winston Munn says:

    If you think the states are in trouble now, imagine what condition their finances would be in if they were forced to use real credit ratings and pay their actual risk interest rates. I wonder who is persuading the agencies to keep the rating artificially inflated, Rahm?

  18. Winston Munn says:

    By the way, I have it on the best helicopter advice available that state financing shortfalls are “contained” and will not affect the broader economy….so we got that to look forward to….big hitter, the helicopter. Long…

  19. david_12321 says:

    Yes. Trustworthy Standard & Poor’s ratings. They have such a excellent history. Last time, the ratings changed -after- the collapse.

  20. drollere says:

    people still look at rating agency outputs. how quaint.