Bond Ratings
When debt is issued by the government, independent credit rating agencies attach a rating to the issue. The ratings attached to all bonds associated with the State of Illinois affect interest payments and the cost to Illinois taxpayers. Individual bond ratings will vary, but the general and special obligation bond ratings are directly related to financial condition of the state government.
General Obligation
MOODY'S
Baa3
stable outlook
S&P
BBB-
stable outlook
Fitch
BBB
negative outlook
Special Obligation
MOODY'S
Baa3
negative outlook
S&P
BBB
stable outlook
Fitch
A-
negative outlook
This table shows the most recent bond ratings from three credit rating bureaus for the two major State of Illinois bond programs.