Illinois had its bond rating downgraded to one step above junk by Moody’s Investors Service and S&P Global Ratings, the lowest ranking on record for a U.S. state, as the long-running political If downgraded again, Illinois would become the first state to receive a junk rating from a credit agency. On July 6, 2017, the Illinois General Assembly passed a $36 spending plan and $5 billion tax increase. The legislature overrode Rauner's veto to pass the budget, which ended the two-year budget impasse.

The credit rating agency S&P Global Ratings has downgraded the state of Illinois’ credit rating to BBB-, just one notch above a noninvestment-grade, or “junk,” rating. S&P has also placed the state The credit rating agency affirmed Illinois’ Baa3 general obligation rating, which is just a notch above junk, and gave the fiscally challenged state its first stable outlook since December 2012. A major credit rating agency says Illinois' rating won't be lowered to "junk" but warns the state still faces serious financial challenges and long-term risks. Illinois had its bond rating downgraded to one step above junk by Moody’s Investors Service and S&P Global Ratings, the lowest ranking on record for a U.S. state, as the long-running political stalemate over the budget shows no signs of ending. For credit ratings that are derived exclusively from an existing credit rating of a program, series, category/class of debt, support provider or primary rated entity, or that replace a previously assigned provisional rating at the same rating level, Moody’s publishes a rating announcement on that series, category/class of debt or program as a whole, on the support provider or primary rated entity, or on the provisional rating, but often does not publish a specific rating announcement on

All three major credit rating agencies — Moody’s, S&P and Fitch Ratings — currently rate state of Illinois bonds at one notch above “junk” status.

9 Jun 2016 In the wake of the state's ongoing budget impasse, Moody's Investors Service downgraded the state's credit rating to two steps above the “junk”  26 Jun 2017 Illinois' credit rating is on its way to “junk” status. According to an AP report, S&P Global Ratings recently warned it will likely lower Illinois'  12 Jun 2017 Last week, the state marked the second full year in which Illinois Gov. flirted with near- bankruptcy and junk-bond level credit ratings. 12 May 2015 That credit rating is also just a few levels above bonds that are in default. pension reform, yet they did not downgrade the State of Illinois.”. 9 Jun 2016 Illinois had the worst credit rating of any state even before the current impasse Illinois' rating to two levels above “junk” status on Wednesday. 21 Jul 2015 Chicago is already feeling the pain of May's credit downgrade, in the S&P also recently lowered the city's rating, while Fitch's rating is three notches above junk. The Moody's downgrade was in direct response to an Illinois 

12 May 2015 That credit rating is also just a few levels above bonds that are in default. pension reform, yet they did not downgrade the State of Illinois.”.

7 Mar 2019 Just Above Junk. All three of the major bond rating agencies have Illinois rated worst in the country, and two of them have had the state's bond  22 Feb 2019 All three major credit rating agencies — Moody's, S&P and Fitch Ratings — currently rate state of Illinois bonds at one notch above “junk” status. 31 Jul 2019 Fitch Ratings moved its outlook on Illinois' credit rating from “negative” to “stable” Wednesday, good news for the state, which has the worst 

24 Apr 2017 Fitch and S&P currently have Illinois one spot above “speculative” or “junk” status (a 'BBB') while Moody's holds the state's credit rating two 

The credit rating agency affirmed Illinois’ Baa3 general obligation rating, which is just a notch above junk, and gave the fiscally challenged state its first stable outlook since December 2012. A major credit rating agency says Illinois' rating won't be lowered to "junk" but warns the state still faces serious financial challenges and long-term risks. Illinois had its bond rating downgraded to one step above junk by Moody’s Investors Service and S&P Global Ratings, the lowest ranking on record for a U.S. state, as the long-running political stalemate over the budget shows no signs of ending. For credit ratings that are derived exclusively from an existing credit rating of a program, series, category/class of debt, support provider or primary rated entity, or that replace a previously assigned provisional rating at the same rating level, Moody’s publishes a rating announcement on that series, category/class of debt or program as a whole, on the support provider or primary rated entity, or on the provisional rating, but often does not publish a specific rating announcement on Moody’s Investors Service announced sweeping credit downgrades for seven Illinois universities on June 9. Five of those seven – Southern Illinois University, Northern Illinois University, Governors State University, Northeastern Illinois University and Eastern Illinois University – now have junk credit ratings.

9 Jun 2016 In the wake of the state's ongoing budget impasse, Moody's Investors Service downgraded the state's credit rating to two steps above the “junk” 

Oak Lawn credit rating hits junk status amid skyrocketing pension costs. By Brad Weisenstein. 01/07/2020. Massive increases in public safety pension  29 Nov 2017 Moody's Investors Service and S&P Global each rated the bonds at just one notch above junk. Fitch Ratings put them at two notches above junk  7 Mar 2019 Just Above Junk. All three of the major bond rating agencies have Illinois rated worst in the country, and two of them have had the state's bond  22 Feb 2019 All three major credit rating agencies — Moody's, S&P and Fitch Ratings — currently rate state of Illinois bonds at one notch above “junk” status. 31 Jul 2019 Fitch Ratings moved its outlook on Illinois' credit rating from “negative” to “stable” Wednesday, good news for the state, which has the worst  1 Jun 2017 Illinois, the fifth most populous US state, has had its credit rating cut to one notch above junk status, thanks to a deepening fiscal deficit and a 

7 Mar 2019 Just Above Junk. All three of the major bond rating agencies have Illinois rated worst in the country, and two of them have had the state's bond  22 Feb 2019 All three major credit rating agencies — Moody's, S&P and Fitch Ratings — currently rate state of Illinois bonds at one notch above “junk” status. 31 Jul 2019 Fitch Ratings moved its outlook on Illinois' credit rating from “negative” to “stable” Wednesday, good news for the state, which has the worst  1 Jun 2017 Illinois, the fifth most populous US state, has had its credit rating cut to one notch above junk status, thanks to a deepening fiscal deficit and a