credit rating http://wuis.org en Illinois' Credit Prognosis: Negative http://wuis.org/post/illinois-credit-prognosis-negative <p>Wall Street's view of Illinois' financial health has taken a hit, thanks largely to the state budget that took effect at the start of this month. Pensions also continue to be a drag.&nbsp;</p><p></p><p><span style="line-height: 1.5;">When Illinois Democrats passed the state's latest budget, many seemed to hold their nose. Credit ratings agencies are more direct: Standard &amp;&nbsp;</span><span style="line-height: 1.5;">Poors</span><span style="line-height: 1.5;">&nbsp;has revised Illinois' credit outlook to "negative."&nbsp;</span></p> Wed, 23 Jul 2014 23:29:40 +0000 Amanda Vinicky 29898 at http://wuis.org Illinois' Credit Prognosis: Negative Moody's: Budget Could Undo 'Significant Progress' http://wuis.org/post/moodys-budget-could-undo-significant-progress <p>The credit rating agency Moody's says Illinois is at risk of undermining progress toward better finances. It says the failure to extend current income tax rates could lead to a worsening deficit.</p><p>Moody's says because lawmakers failed to stop an automatic tax cut scheduled for the end of the year, Illinois could have to increase its backlog of unpaid bills. The state already has the lowest credit rating in the nation.</p><p>Republicans say this shows Illinois needs to further reduce costs, but Democratic Senate President John Cullerton says there isn't that much left to cut.</p> Wed, 04 Jun 2014 13:46:05 +0000 Brian Mackey 26554 at http://wuis.org Moody's: Budget Could Undo 'Significant Progress' Rating Agencies Not Worried About Pension Hold http://wuis.org/post/rating-agencies-not-worried-about-pension-hold <div style="margin:0;"><span lang="en-US"><font face="Calibri,sans-serif" size="2"><span style="font-size:11pt;"><font face="Arial,sans-serif" size="3"><span style="font-size:12pt;">Illinois' pension overhaul might be on hold, but credit ratings agencies say they're not concerned. Fri, 16 May 2014 01:05:26 +0000 Amanda Vinicky 25233 at http://wuis.org Rating Agencies Not Worried About Pension Hold S&P: Next Two Months 'Critical' For Illinois Finances http://wuis.org/post/sp-next-two-months-critical-illinois-finances <p>A major credit rating agency says the next two months will be "critical" for the future of Illinois' finances. The key question is whether to make a temporary tax hike permanent.</p><p>Like most of the big credit rating agencies, Standard &amp; Poor's has been bearish on Illinois finances — lowering the state's credit rating four times in recent years.</p> Wed, 09 Apr 2014 21:37:01 +0000 Brian Mackey 22672 at http://wuis.org S&P: Next Two Months 'Critical' For Illinois Finances Illinois Pays Penalty For Bad Fiscal Image http://wuis.org/post/illinois-pays-penalty-bad-fiscal-image <p>When it comes to finances, the State of Illinois has a poor reputation.&nbsp;&nbsp; New research shows how the state's negative perception is costing taxpayers.&nbsp;</p> Mon, 10 Mar 2014 12:19:00 +0000 Sean Crawford 20416 at http://wuis.org Illinois Pays Penalty For Bad Fiscal Image S & P Improves Financial Outlook For Illinois http://wuis.org/post/s-p-improves-financial-outlook-illinois <p>A major credit-rating house has taken a more positive<br />outlook on Illinois debt than it has in years after last week's pension-reform<br />vote.<br />&nbsp;<br />Standard &amp; Poor's affirmed its A- rating on state debt backed by general tax<br />revenue Tuesday but revised its outlook from ``negative'' to ``developing.''<br />&nbsp;<br />The ratings agency says ``developing'' means the rating could be raised or<br />lowered in the next two years. Analyst Robin Prunty says the change is positive<br />but risk remains because workers unions will likely sue over the pension law Tue, 10 Dec 2013 20:43:00 +0000 Associated Press 14698 at http://wuis.org S & P Improves Financial Outlook For Illinois Report Questions Illinois' Low Credit Rating http://wuis.org/post/report-questions-illinois-low-credit-rating <p class="p1"><span style="line-height: 1.5;">&nbsp;&nbsp;</span>Governor Pat Quinn says Illinois' failure to solve its pension problem means the state will have to pay $130 million more in interest on <a href="http://www.reuters.com/article/2013/06/26/us-usa-illinois-bonds-idUSBRE95P18P20130626">bonds it sold Wednesday</a>. But a new study is questioning Illinois' low debt rating.</p><p><span style="line-height: 1.5;">Illinois got an average interest rate of five percent on the $1.3 billion bond sale — and had to turn away many potential buyers.</span></p> Thu, 27 Jun 2013 12:00:00 +0000 Brian Mackey 4872 at http://wuis.org Report Questions Illinois' Low Credit Rating