![]() "Illinois was in a deep hole in the years before I was sworn into the governorship, and together with the General Assembly, step by step, we are putting Illinois on firm fiscal footing," said Governor JB Pritzker. Moody's noted that Illinois is "on track to close the current fiscal 2022 with its strongest fund balance in over a decade," its progress in repaying its debts, and its increased pension contributions, taken as an indication of the state's increased commitment to paying its pension debt. Moody's last upgraded the state's bonds in June of 2021 and today's upgrade credited the state's "solid tax revenue growth over the past year" which expanded the state's ability to rebuild financial reserves and increase payments toward unfunded liabilities. Pritzker has tirelessly focused on strong and responsible fiscal management, working with the General Assembly to hold the line on spending while making key investments to strengthen Illinois' outlook. CHICAGO - Governor JB Pritzker celebrated the state's improved bond rating from Moody's Investor Service on Thursday, the second such upgrade by Moody's in less than a year and third overall in two decades.
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