Fitch Ratings Upgrades Kansas Credit Outlook to Positive

Posted September 23, 2026

TOPEKA – Fitch Ratings, a global credit rating agency, released its credit rating outlook for the State of Kansas. Fitch Ratings upgraded Kansas’ outlook to “Positive” from “Stable” and affirmed Kansas’ “AA” rating status. Fitch ratings now joins Moody’s as the second rating agency to upgrade Kansas’ credit rating in recognition of Governor Laura Kelly’s eight years of responsible fiscal leadership.

“Earning a second credit outlook upgrade from Fitch, after Moody’s upgrade in May, is yet another recognition of the hard work and discipline it took to climb out of the fiscal hole the previous administration had dug,” Governor Laura Kelly said. “Kansas is in the best financial position it has been in more than a decade, but it is not a position we are guaranteed to maintain. I urge Kansans to hold elected officials accountable to maintain our positive trajectory instead of ushering in a return to the days of crumbling roads, four-day school weeks, and budgetary gimmicks.”

In its announcement yesterday, Fitch referenced Kansas’ increased fiscal resilience and improved budget practices as prime contributors to the upgraded outlook. Governor Kelly’s leadership in building up the $2 billion Rainy Day Fund, paying down debt and using one-time funds for one-time projects, and closing the Bank of KDOT were significant factors in Fitch’s decision to affirm Kansas’ AA rating.

“Earning a rating outlook upgrade from a nationally recognized credit rating agency is not something that is accomplished in one or two years,” Adam Proffitt, Director of the Budget for the State of Kansas, said. “This upward revision to our outlook is a product of the emphasis that this administration has placed on restoring fiscal sanity to the State’s budget under Governor Kelly’s leadership.”

In May 2026, Moody’s upgraded Kansas’ credit outlook from stable to positive. In its announcement, Moody’s attributed this upgrade to an improved governance structure, strong rainy-day reserves, a reduction in the state’s debt obligations, and implementing tax cuts that are responsible in nature.

Under Governor Kelly’s leadership the state has seen the following upgrades and positive affirmations to credit ratings and credit outlooks:

  • May 2026: Moody’s Investors Service Upgrades Kansas Outlook to Positive
  • January 2024: Fitch Ratings Releases First Kansas Credit Rating at AA, Citing Governor Kelly’s Fiscal Responsibility
  • February 2023: S&P Global Improves Kansas Credit Outlook Under Governor Kelly

The improvements seen under Governor Kelly are in stark contrast to the damage done to the state by the previous administration:

  • 2014: S&P downgrades state’s credit rating from AA+ to AA in August.
  • 2016: S&P puts the state on a negative credit watch.
  • 2016: State of Kansas’ Moody credit outlook was dropped from stable to negative, citing inabilities to restore structural balance to the budget due to the Brownback-Colyer Tax Experiment.
  • 2016: S&P downgrades the state’s credit rating from AA to AA-.
  • 2017: S&P downgrades the state credit outlook from “Stable” to “Negative.”

Fitch Ratings’ announcement can be found here.

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