* Dan Vock…
“Our view is that the state is heading in the right direction,” said Eric Kim, the head of U.S. state ratings for Fitch Ratings, which dropped Illinois’ bond rating to a notch above junk bond status in the early days of the pandemic.
Fitch was the last of the three major bond ratings agencies to put Illinois on the cusp of junk bond status, but the other two ratings agencies increased Illinois’ bond rating last summer. The upgrades were the first time in two decades that Illinois had received better bond ratings.
If trends continue, Kim said, Fitch may upgrade its grade for Illinois bonds, too. “We’ve been seeing some positive things over the past year and a half,” he said. […]
While congressional Republicans have criticized the $350 billion in support for state and local governments as a blue state bailout, Kim, the Fitch Ratings analyst, said other federal support helped Illinois and other states even more.
“Frankly, the entire country, every state, every city and every local government benefited from all the economic stimulus that the federal government provided – trillions and trillions of dollars,” he said.
- Anyone Remember - Tuesday, Apr 5, 22 @ 1:28 pm:
About bloody time.
- Nick - Tuesday, Apr 5, 22 @ 1:32 pm:
It is ridiculous that they haven’t yet. Utterly.
- Oswego Willy - Tuesday, Apr 5, 22 @ 1:33 pm:
Lookout…
The grifter, doomsday soothsayers…
…and those folks who spend their time orbiting Illinois politics just spelunking for misery…
This is awful news.
The grifters will stay here in Illinois and ignore these turns, trying to squeeze more cash for themselves as this state continues to rebuke their ignorant what.
Good to see this today.
- Oswego Willy - Tuesday, Apr 5, 22 @ 1:35 pm:
=== It is ridiculous that they haven’t yet. Utterly.===
And let’s be especially clear to the specific.
The rating(s) is(are) a racket.
It’s a racket the millisecond these folks refuse to look at payment history and constitutional and legal realities to monies borrowed.
It’s a racket for the grifters.
- opinions opinions - Tuesday, Apr 5, 22 @ 1:39 pm:
Is this based on the Governor’s introduced budget? Because someone might want to convince the House and Senate.
- Norseman - Tuesday, Apr 5, 22 @ 1:40 pm:
The spelunkers of misery are busing in the backroom contriving some criticism of this positive news. I trust they’ll find it. Today’s GOP is excellent on fabricating stories.
- TheInvisibleMan - Tuesday, Apr 5, 22 @ 1:43 pm:
At the very least, I can really appreciate how reality is able to get John Tillman to stop talking.
- Oswego Willy - Tuesday, Apr 5, 22 @ 1:44 pm:
===Because someone might want to convince the House and Senate.===
Rauner went a whole General Assembly without *any* budget.
Are you suggesting this General Assembly won’t pass this budget (or tweaks to the core) even before May 1st?
- Baloneymous - Tuesday, Apr 5, 22 @ 2:02 pm:
I think we’ve earned the upgrade and not sure what else Fitch needs to see after 1.5 years. come on already.
- filmmaker prof - Tuesday, Apr 5, 22 @ 2:23 pm:
But what about Critical Race Theory?
- AC - Tuesday, Apr 5, 22 @ 2:49 pm:
When the credit upgrade happens, or when there’s other good news for the state, I feel like I should send something over to the IPI, like flowers or even pizza or doughnuts, just something to make them feel a little better.
- Dirty Red - Tuesday, Apr 5, 22 @ 7:26 pm:
= just something to make them feel a little better. =
Meh. They’re good.