Illinois State Treasurer’s Office News Releases

CHICAGO — As expected, Moody’s Investors Service today kept Illinois under review for a downgrade to potential junk bond status. “Moody’s decision is not surprising. Republicans and Democrats coming together to pass a budget after nearly three years without a spending plan is the first in a long-line of difficult steps to return Illinois to prosperity,” Illinois State Treasurer Michael Frerichs said. “These steps include the five tasks I previously outlined to reassure Moody’s and other credit-rating agencies.” To avoid becoming the first state in history to be assigned junk…

SPRINGFIELD — “Today’s vote to override Governor Bruce Rauner’s veto of the budget was the only option to restore vital funding to universities, social service agencies, and try to avoid another credit downgrade. “This is not a time to rejoice. Today only brings us a bit of relief, but it is a step in the right direction to put Illinois back on track,” Illinois State Treasurer Michael Frerichs said. “The courage shown by several Republican members of the Illinois General Assembly is commendable. My hope is that the bipartisanship of…