The positive rating drift for U.S. public finance that began in 2014 persisted through 2015, according to a Fitch Ratings report.
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Downgrades trailed upgrades by a margin of 0.4 to 1, tightening from 2014's ratio of 0.7 to 1, Fitch said. The overall stability rate improved year over year to 89% from 87% the previous year.
U.S. public finance securities downgraded and upgraded remained low in 2015, with the total declining year over year by a third. The share of ratings affected by downgrades and upgrades was 1.6% and 3.7% in 2015, respectively.
Fitch-rated U.S. public finance security ratings recorded no defaults in 2015.
