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Pritzker seeks credit upgrades despite growing pension debt, budget deficits madisonrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from madisonrecord.com Daily Mail and Mail on Sunday newspapers.
Minutes of the Meeting of the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association May 5, 2020 marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
REGISTER NOW Illinois won a one-notch upgrade Tuesday from Moody’s Investors Service, action that turns the rating tide for a state stung by more than a decade of downgrades that left it one cut away from a speculative grade. Moody’s moved its general obligation and Build Illinois sales tax-backed ratings up one level to Baa2 from Baa3. It continues to assign a stable outlook. Illinois’ management through the COVID-19 pandemic and prudent actions with its rosier revenue projections and $8.1 billion in new federal relief from the American Rescue Plan Act drew Moody’s praise. Illinois Gov. J.B. Pritzker hailed the Moody s rating upgrade, calling it the state s first in more than 20 years. ....
REGISTER NOW Illinois moved closer to winning an upgrade thanks to budgetary steps in the right direction and a rosier revenue trajectory that Fitch Ratings recognized in raising the state s outlook to positive from negative. Fitch on Wednesday affirmed the state’s BBB-minus general obligation rating still the lowest investment grade score and the BBB-plus assigned to sales tax-backed Build Illinois bonds. Both outlooks moved to positive from negative, skipping stable. Analysts lowered the rating one notch and put a negative outlook on the credits in the spring of 2020 citing the fiscal threat of the coronavirus pandemic. Fitch s action is “yet another sign of positive momentum for our state’s fiscal condition, said Illinois Gov. J.B. Pritzker. ....
“the newly “found” money was prompting a horde of spending requests from members” rubs temples I’m a pretty liberal guy, I love big government programs that actually help people, I think government can be and is a huge force for good in people’s lives, but my GOD sometimes it’s hard for me to support these so-and-sos. The state is broke, please, please, PLEASE THINK FOR ONCE. Keeping what we have, not having massive cuts, is a huge win here[exclamation point]. Take the win[another exclamation point] ==Fiscal Wreckage, State and Local.== Coming from a newspaper once valued at 8.2 billion, now selling for 602 million. ....