Illinois earns 7th credit upgrade in less than two years

Illinois earns 7th credit upgrade in less than two years

One of the big three credit agencies cites early debt retirement and the buildup of the rainy day fund for the rating, reversing a nearly two-decade downward trend.

Illinois earns 7th credit upgrade in less than two years

S&P Global Ratings announced Thursday that it had raised Illinois' long-term credit rating to A-, up from BBB+, the 7th upgrade in less than 2 years.

Illinois Gets Credit Rating Upgrade from S&P

Ratings agency S&P on Thursday moved Illinois’ bond rating up a notch, from BBB+ to A- on general obligation bonds. It’s the agency’s third upgrade since the summer of 2021.

Illinois earns its seventh credit upgrade in less than two years

S&P Global Ratings announced Thursday that it had raised Illinois’ long-term credit rating to A-, up from BBB+.

Illinois earns 7th credit upgrade in less than two years

S&P Global Ratings announced Thursday that it had raised Illinois’ long-term credit rating to A-, up from BBB+, marking the seventh upgrade the state has received from a major rating agency in less than two years.

Illinois earns 7th credit upgrade in less than two years

Before the recent string of upgrades, all three major rating agencies – including Moody’s Investors Service and Fitch Ratings – had rated Illinois’ bonds at one notch above “junk” status, the point at which large institutional investors will no longer purchase them.