OKLAHOMA CITY – Disregarding the superstition attached to Friday the 13th, State Treasurer Todd Russ announced Friday that Fitch Ratings is the third rating agency upgrade for the State of Oklahoma.
Fitch raised the state’s credit rating to AA+ with a Stable Outlook, Russ reported.
In its report, Fitch cited several key drivers behind the state’s credit strength, including Oklahoma’s revenue and expenditure framework, low liability burden, and robust operating performance.
The state has maintained a disciplined approach to financial planning while proactively building and preserving strong operating reserves, the agency noted.
According to Fitch, this strategy positions Oklahoma to better absorb potential economic or revenue shocks, while consistent budget management and reliable revenue forecasting provide the state with strong capacity to close potential budget gaps.
“This upgrade reflects the steady work Oklahoma has done to strengthen its financial foundation and diversify our economy,” Russ said. “Since taking office, we have prioritized responsible financial management and building strong reserves so our state can weather uncertainty while continuing to create opportunities for Oklahoma families and businesses. A strong balance sheet today helps ensure Oklahoma remains competitive and wellpositioned for growth well into the future.”
“Oklahoma is stronger than it’s ever been, and this upgrade is further proof that conservative leadership, fiscal responsibility, and free market principles work,” said Gov. Kevin Stitt. “When I entered office, I promised a turnaround for our state, and we immediately got to work.
Seven years later, we’re seeing the real results of making government more efficient, cutting taxes, and delivering historic savings. We’re in an incredible financial position that will benefit Oklahomans for years to come.”
The latest action from Fitch follows previous upgrades from Moody’s in September 2024 and Standard & Poor’s in March 2025. In their most recent credit reports released this month:
•Moody’s Ratings noted that the State of Oklahoma “(Aa1 stable) has among the strongest fund balance ratios and lowest leverage ratios for U.S. states. We expect its balance sheet will remain strong for many years, given prudent budgetary management and dedication to preserving various, large rainy-day funds even after drawdowns for one-time expenses.”
•S&P Global Ratings wrote, “The stable outlook reflects our expectation that Oklahoma will continue its practice of tight expenditure management, and that its accumulation of large reserve balances should provide a substantial financial buffer to navigate potential nearterm cyclical pressures.
In addition, we believe the state’s management of expenditure growth in future budgets, and budgeting 95% of certified revenue, will help to offset the potential effects of slower revenue growth caused by recent tax policy changes over the outlook horizon.”
These assessments from the nation’s leading credit rating agencies “underscore Oklahoma’s disciplined fiscal policies and continued focus on long-term financial stability,” Russ said. All three major credit rating agencies have now affirmed or increased Oklahoma’s credit ratings in the last two years.