All Three Rating Agencies Have Upgraded Illinois’ Outlook
Fitch Ratings revised the outlook on Illinois’ General Obligation bonds from negative to positive.
With this action, Illinois’ GO bond rating moves from BBB- with a negative outlook to BBB- with a positive outlook. Fitch is the third rating agency to upgrade the state’s outlook.
“Fitch’s improved outlook for Illinois is yet another sign of positive momentum for our state’s fiscal condition, a testament to strong financial management and responsible actions by the General Assembly and my administration, and a product of the state’s economic resilience,” said Governor JB Pritzker. “The story of Illinois in 2021 is that in the face of a crisis, fiscal discipline and smart economic policy pays off. I want to thank the General Assembly, especially Speaker Chris Welch and President Don Harmon and their budget negotiators for their partnership in our common purpose of bringing about long-term fiscal strength for Illinois. Together, in the face of a deadly global pandemic, we enacted a balanced budget for the third straight year of my administration, demonstrating fiscal responsibility works with a vision of governance focused on working families.”
Highlights from Fitch’s analysis: