Illinois Earns Credit Upgrade
•March 8, 2023• By Peter Hancock Capitol News Illinois S&P Global Ratings announced Thursday that it had raised Illinois’ long-term credit rating to A-, up from BBB+, marking the seventh upgrade the state has received from a major rating agency in less than two years. The rating applies to roughly $27.7 billion in outstanding general obligation, or GO, bonds. “The upgrade on the GO debt reflects our view that Illinois’ commitment and execution to strengthen its budgetary flexibility and stability, supported by accelerating repayment of its liabilities, rebuilding its budget stabilization fund to decade highs; and a slowing of statutory … Read More
