SAN FRANCISCO — Moody’s Investors Service and Fitch Ratings yesterday said they planned to upgrade California’s economic recovery bonds after a $3 billion refunding deal next week.

The upgrade, to A1 from Baa1, applies to the refunding bonds and would also apply to another $5.2 billion of outstanding ERBs “when this transaction has closed,” Moody’s said.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.