The ‘A-‘ Long-Term Issuer Default Rating (IDR) of Illinois reflects its solid operating performance, albeit still weaker than most other states’, and long record of structural imbalance, primarily related to pension underfunding offset by continued progress toward more sustainable budgeting practices. The ‘A-‘ IDR also reflects the state’s elevated long-term liability position and resulting spending pressure. Illinois’ deep and diverse economy is only slowly growing, but still provides a strong fundamental context for its credit profile.
Wed 01 May, 2024