For the first time since the 1990s, Illinois has received a bond rating upgrade from Moody’s Investor Service. This follows an upgrade from Fitch Ratings last week.
Governor J.B. Pritzker during a news conference Tuesday. Moody’s had previously downgraded Illinois’ rating on General Obligation bonds on three different occasions. Pritzker used the moment to take a jab at former Governor Bruce Rauner.
According to state officials, higher bond ratings allows Illinois to borrow money at lower interest rates.
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