A parallel thread processor executes thread groups belonging to multiple cooperative thread arrays (CTAs). At each cycle of the parallel thread processor, an instruction scheduler selects a thread group to be issued for execution during a subsequent cycle. The instruction scheduler selects a thread group to issue for execution by (i) identifying a pool of available thread groups, (ii) identifying a CTA that has the greatest seniority value, and (iii) selecting the thread group that has the greatest credit value from within the CTA with the greatest seniority value.