Manley Celebrates Illinois’ Latest Credit Upgrade, Return to Fiscal Stability

SPRINGFIELD, Ill. — Illinois received an upgrade of its bonds to A3 by Moody’s Investor Service today, thanks in part to the leadership of state Rep. Natalie Manley, D-Joliet. Today’s credit upgrade is the state’s eighth in less than two years, in stark contrast to the mismanagement and fiscal irresponsibility of past administrations.

“Today marks another milestone in our ongoing work to rebuild Illinois’ fiscal house and strengthen our economic outlook for generations to come. Illinois stands on the strongest fiscal footing that we’ve seen in years thanks to the leadership of Gov. Pritzker and my colleagues in the General Assembly,” Manley said. “This measurable progress toward budget stability is critical for taxpayers and businesses, but most noteworthy is how we are achieving it: We’re making progress while also building a stronger middle class, not cutting wages. We’re moving Illinois forward while investing in lifesaving healthcare for women and seniors, not slashing it. When I talk to the people in my district, they see that this is what a real turnaround agenda looks like.”

This upgrade means investors now view Illinois’ finances as having a stable outlook, the first time Illinois has had this projection since Sept. 2015. A 700-day budget crisis, a $17 billion backlog of unpaid bills, and gutted human services funding, resulted in eight credit rating downgrades and cost the taxpayers millions.

With decades of experience in the private sector as a CPA, Manley, along with her colleagues worked to produce smart and responsible balanced budgets by prioritizing and examining spending, making tough decisions and going through the budget line by line.

“It was only a few short years ago that Illinois was on the brink of junk status, but Illinois’ Democratic leadership turned our outlook around and improved our credit rating while still funding the critical services our communities rely on,” Manley said. “As we continue negotiations for what will be our fifth balanced budget, we reaffirm our strong commitment to restoring Illinois’ fiscal stability so no one suffers at the hands of economic mismanagement again.”