Prairie State Wire

Moody's Analytics has adjusted its outlook on Illinois bonds from "stable" to "positive." This change is attributed to the state's "continued improvement in fund balance and budget reserves, which has been supported by stability in revenue and state decisions to shore up financial health."

Comptroller Mendoza expressed her gratitude towards the General Assembly and Governor Pritzker for their commitment to responsible budgeting. She also urged legislators to support her Rainy Day bill, HB2551, which mandates regular deposits into the Rainy Day and Pension Stabilization funds.

Moody’s highlighted that further increases in pension contributions could lead to more credit upgrades for Illinois. Comptroller Mendoza remarked, "We’ve had nine consecutive credit upgrades and we want to keep going." She emphasized that improved ratings from bond rating agencies result in lower costs for taxpayers on infrastructure projects such as roads and bridges.