Ted Dabrowski, a candidate for Illinois governor, said that the state continues to hold the lowest credit rating in the nation. He attributed this to tax increases and credit risks in the Chicago area, which he said are ongoing burdens for residents.
“Gov. Pritzker brags about the credit upgrades Illinois has gotten, but he doesn’t tell the full story,” said Dabrowski, Gubernatorial Candidate. “Illinois is still the worst-rated state in the nation. Chicago is flirting with a junk rating again. Not to mention all the tax hikes under Pritzker that make the situation better for banks and bondholders, but that hit everyday Illinoisans hard.”
Illinois has experienced several credit-rating upgrades during Governor J.B. Pritzker’s tenure, including an upgrade from Moody’s. The governor’s office has highlighted these improvements as part of a broader trend. However, industry analysts still describe Illinois as the worst-rated state in the country. Dabrowski used this point to argue that despite upgrades, the state’s relative standing remains unchanged.
Dabrowski referenced “COVID bailouts” to illustrate the scale of federal pandemic aid Illinois received through the U.S. Treasury’s State and Local Fiscal Recovery Funds program. According to state recovery-plan reports, Illinois obtained $8.127 billion under the American Rescue Plan Act. These funds were allocated for public health, economic recovery, housing, and infrastructure, which can temporarily bolster reserves and cash-flow measures tracked by credit-rating agencies.
Chicago’s credit situation is also a topic of concern within this discussion. S&P Global Ratings has affirmed Chicago’s BBB general-obligation rating but revised its outlook to negative. Public media outlet WTTW noted that this rating is two notches above junk status. Additionally, S&P assigned BB-plus ratings to Chicago Board of Education debt, with the district’s finance office continuing to monitor sub-investment-grade ratings across agencies—aligning with Dabrowski’s assertion that Chicago Public Schools remain junk-rated.
Dabrowski serves as president of Wirepoints, a policy publication, and has entered the Illinois Republican primary for governor according to Capitol News Illinois. His campaign “Ted for Illinois” focuses on fiscal restraint, lower taxes, and governance reforms.
