Moody's has assigned its top rating, Aaa, to 17 states. The agency has a Baa1 credit rating for Illinois, and it doesn't rate Wyoming.
Examining state pension liabilities
North Dakota had the lowest percentage of long-term liabilities to fiscal 2021 revenue at about 32%, while Illinois was the highest at nearly 677%. Long-term liabilities include net tax-supported debt, adjusted net pension liabilities, adjusted net other post-employment benefit liabilities, and other long-term liabilities.
The adjusted net pension liability typically makes up the largest portion of a state's long-term debt, and that's the case for virtually all states when the adjusted net OPEB gets added.
North Dakota's adjusted net pension liability as a percentage of revenue was 28.5%. At the other end of the spectrum, Illinois' figure was more than 517%. The median was 92%.
Sponsored
White Papers
Sponsored Content
Partner Content