Illinois Continues To Borrow Despite Poor Credit Rating

Amid the COVID-19 crisis, the state of Illinois is borrowing $1.2 billion through general obligation bonds. Fitch Ratings is giving the short term borrowing a Triple-B-Minus (BBB-) rating with a negative outlook. The rating agency says the state’s lack of meaningful reserves will be a challenge to maintaining its investment-grade status. Illinois has among the worst credit ratings in the country.

Submit a Comment