Rep. Buckner Celebrates Illinois’ 9th Credit Rating Upgrade

SPRINGFIELD, Ill. – State Rep. Kam Buckner, D-Chicago, is applauding another step in rebuilding Illinois’ fiscal house as Illinois’ latest budget has earned the state its ninth credit rating upgrade in two years.

“This year’s budget continued Illinois’ recent trend of fiscal responsibility, and our focus on that principal is once again being met with support from major financial institutions,” Buckner said. “Satisfying pension promises, contributing to Illinois’ rainy day fund and paying down old debt have all been proven steps towards restoring this state’s stability following years of Rauner-era backlog. I will continue to back these practices while I stand for our community in Springfield.”

The Fitch Ratings agency upgraded Illinois’ financial outlook to an ‘A’ rating or ‘stable.’ Their report cited “…the state’s ability to execute on significant planned reserve contributions and maintain improvements in budget management…” Fitch also highlighted Illinois’ broad revenue base, and deep and diverse economy as strengths that could continue to propel Illinois’ rating higher.

This increase is the ninth increase in the past two years from the three major ratings agencies: Fitch, Standard and Poor’s, and Moody’s.

“This body has passed a timely budget every year of my tenure in Springfield,” Buckner said. “That trend clearly pays dividends in the short- and long-term. We are sending this message loud and clear: Illinois doesn’t spend taxpayer dollars without consideration for every Illinoisan.”