CalPERS Receives Top Rating from Fitch
July 16, 2014
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Joe DeAnda, Information Officer
SACRAMENTO, CA – CalPERS today announced that Fitch Ratings has given the Pension Fund’s Credit Enhancement Program (CEP) its highest long-term rating, "AAA."
Fitch Ratings, a leading global rating agency, gave CalPERS its AAA rating for the System’s funding of retirement benefits, financial condition, and available liquidity.
CalPERS Credit Enhancement Program was approved by the Pension Fund’s Board in February 2003. It is designed to help municipalities around the country that want to sell bonds to the market by getting backing from the AAA rated Pension Fund. CalPERS, in turn charges, a fee for lending its good credit.
Fitch also gave its highest possible “F1+” rating for CalPERS short-term CEP component.