Illinois is on a bit of a ratings roll.
For the second time in a year, Moody’s Investors Service has upgraded its take on Illinois debt, moving its grade up one notch, to Baa1 from Baa2.
In a statement today, the New York fiscal agency cited rapid revenue growth over the past year, and noted that the state “is also increasing pension contributions, indicating increased commitment to paying its single-largest long-term liability.”
Despite recent improvement, obstacles remain, Moody’s added.
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April 21, 2022 at 01:45PM