News

WITH RATINGS THIS LOW, ILLINOIS WOULD NOT BUY ITS OWN BONDS
June 2, 2017

CHICAGO – Illinois’ credit rating has fallen so low that the state is too risky an investment for even itself, Comptroller Susana Mendoza and Treasurer Michael Frerichs announced Friday.

 
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COMPTROLLER MENDOZA'S STATEMENT ON 701 DAYS WITHOUT A BUDGET AND ILLINOIS' 7th and 8th CREDIT DOWNGRADES IN 28 MONTHS
June 1, 2017

SPRINGFIELD – On our 701st day without a budget, two more bond rating agencies gave Illinois the 7th and 8th credit downgrades since Gov. Rauner took office 2 ½ years ago. Before he took office, Illinois had been paying its backlog of bills down. It got down to less than $5 billion. In just two years of his failed leadership, he has about tripled that stack of unpaid bills to $14.5 billion and growing. Both Standard & Poor’s and Moody’s dropped the state to one grade above junk status Thursday.

 
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ILLINOIS COMPTROLLER SUSANA MENDOZA WARNS OF DIRE CONSEQUENCES OF STARTING A THIRD YEAR WITHOUT A BUDGET
May 31, 2017

SPRINGFIELD – I’m disappointed that Governor Bruce Rauner did not work to compromise with lawmakers to get a balanced budget passed by the end of the spring legislative session.  As the bond rating agency Standard & Poor’s said earlier this year, the state’s budget crisis is a “man-made byproduct of policy ultimatums placed upon the state's budget processes” by the Governor. 

 
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