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S&P Global Ratings upgrades Illinois bond rating
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Normal, IL, USA / www.cities929.com
Jun 29, 2021 | 5:13 PM
(The Center Square) â For the first time since the 1990s, Illinois has received a bond rating upgrade from Moodyâs Investor Service.
This follows an upgrade from Fitch Ratings last week.
Gov. J.B. Pritzker called a news conference Tuesday to announce the upgrade.
âAchieving a ratings upgrade in this case from Moodyâs for the first time in 23 years, that is something that we should all pay attention to,â Pritzker said. âItâs a huge note of progress for our state and I am very proud.â
Moodyâs upgraded Illinoisâ rating on General Obligation bonds from Baa3 with a stable outlook to Baa2 with a stable outlook.
Gov. JB Pritzker praised Illinois’ first bond-rating upgrade in more than 20 years Tuesday as recognition for his administration’s fiscal prudence and for what he described as a team effort with other Democratic leaders in state government.
“Make no mistake, despite all the challenges of the last year, after eight credit downgrades our state suffered under my predecessor, I say with full certainty Illinois’ fiscal condition is headed in the right direction for the first time in the 21st Century,” Pritzker said at a Statehouse news conference.
“We are truly forging a new path for our great state,” the governor said.