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Credit quality in Massachusetts ranks about average compared to the rest of the country.  

That’s according to a report recently published by the Hartford, Connecticut-based investment manager Conning, which examined credit-quality issues that have made headlines in recent years.  

Those issues include the health of states’ reserves and its preparedness for the next recession; fixed costs in a state; the funding status of state pension plans and key factors in population shifts, among other issues. 

The report ranked Massachusetts 23rd in the country in terms of credit quality. Bright spots in the Bay State’s credit quality ranking included state GDP per capita (second place), median household income (fourth place) and unemployment rate (11th place). 

However, the state struggled in several sub-categories including economic debt (43rd place), debt per capita (49th place) and the ratio of general fund balances to general fund expenditures (41st place). 

Elsewhere in New England, Massachusetts’ credit quality ranked behind New Hampshire (seventh place), but ahead of Maine (37th place), Vermont (45th place), Connecticut (46th place) and Rhode Island (47th place). 

The best overall credit quality in the country went to Utah and the worst was Kentucky.