Moody’s revises Illinois outlook from stable to positive

[Threegoofs]

I think this is the 10th increase in credit rating under JB Pritzker.

The former Republican governor, Rauner, drove the states finances into the ground.

Capitol Fax.com - Your Illinois News Radar » Moody’s revises Illinois outlook from stable to positive (Updated)

Moody’s revises Illinois outlook from stable to positive (Updated) Tuesday, Apr 23, 2024 - Posted by Isabel Miller * Crain’s… Moody’s Investors Service revised the state’s outlook from stable to positive yesterday, affirming the state’s A3 issuer rating. That positive outlook hinged on the possibility of continued growth in state revenue, Moody’s said in a written statement. “Revision of the outlook to positive is driven by continued improvement in fund balance and budget reserves, which has been supported by stability in revenue and state decisions to shore up financial health,” according to Moody’s. “Affirmation of the ratings recognizes lingering downside risks to the state’s credit profile, including outsize liabilities stemming from unfunded pensions.” […] Moody’s latest outlook on Illinois is a rosier report than the one it issued last year, when the credit reporting agency described Illinois’ financial position as weak and pointed to underlying challenges like the state’s constitutional protection of pension benefits.

 

[Phys251]

I think this is the 10th increase in credit rating under JB Pritzker.

The former Republican governor, Rauner, drove the states finances into the ground.

Capitol Fax.com - Your Illinois News Radar » Moody’s revises Illinois outlook from stable to positive (Updated)

Moody’s revises Illinois outlook from stable to positive (Updated) Tuesday, Apr 23, 2024 - Posted by Isabel Miller * Crain’s…

Oooh, the righties are not going to like this! Democratic success is their nightmare.

 

[mrjurrs]

I think this is the 10th increase in credit rating under JB Pritzker.

The former Republican governor, Rauner, drove the states finances into the ground.

Capitol Fax.com - Your Illinois News Radar » Moody’s revises Illinois outlook from stable to positive (Updated)

Moody’s revises Illinois outlook from stable to positive (Updated) Tuesday, Apr 23, 2024 - Posted by Isabel Miller * Crain’s…

Here's what I say...
**** Moody's and all the credit rating services. How much do you suppose IL paid for the rating?
"During the 2007-2008 financial crisis, Moody's and other credit rating agencies were criticized for giving high ratings to mortgage-backed securities that in many cases consisted of risky subprime loans."

Moody's Corporation: What It Does and How Its Credit Ratings Work

Moody's provides economic analysis software and rates securities based on assessed risk and the borrower's ability to make interest payments.

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