State of the States Report
In Conning’s 2020 State of the States report, the firm lowered its outlook to negative from stable on state credit quality. While state credit quality in 2019 was the strongest it had been in a decade, the COVID-19 pandemic will force states to make difficult budget decisions and possibly dip into reserves to address shortfalls.
Conning’s annual ranking of each of the 50 U.S. states by credit quality analyzes the strength of balance sheets, economic conditions and socio-economic trends. As 2020 raises concerns of the possible fate of state budgets due to the pandemic’s impact, Conning offers insights on how individual states are prepared for the economic downturn.