SPRINGFIELD, Ill. – State Rep. Janet Yang Rohr, D-Naperville, applauds the state’s recent credit rating upgrade earlier this week by The Fitch Ratings, citing consistent fiscal responsibility for recent success.
“When we focus on paying down debt, establishing sound pension payment plans, and fully fund the services everyday families rely on, Illinois becomes a better, more fiscally sound place to live,” Yang Rohr said. “After years of budget impasses, we are undoing that damage, and major financial institutions are recognizing the progress we’ve made. While this is welcome news, I continue to work with my colleagues and business partners to improve our state’s fiscal health.”
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.
Yang Rohr was critical in crafting the state’s fifth consecutive balanced budget during the Spring legislative session. She fought for $250 million to kickstart landmark early childhood education programs in the state, easing the burden facing working families with young children. Additionally, Yang Rohr advocated for tens of millions more in needed investments to tackle homelessness throughout the state.
“Earlier this year, I worked closely with stakeholders, organizations and leading experts to craft a budget that honors the contributions of working families and keeps their financial future as top priority,” Yang Rohr said. “As we develop our upcoming budget priorities, my community can trust that their voices will be heard.”