The State of Illinois’ ‘A–’ Long-Term IDR reflects solid operating performance that nonetheless remains weaker than that of most other states. Illinois has a long record of structural imbalance primarily related to pension underfunding, offset by continued progress toward more sustainable budgeting practices. The rating also reflects the state’s elevated long-term liability position and resulting spending pressure. Illinois’ deep and diverse economy is growing slowly, but still provides a strong fundamental context for its credit profile.
Thu 12 Sep, 2024