FOR IMMEDIATE RELEASE
Thursday, June 1, 2017

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Chicago, IL – Just a few hours after S&P Global Ratings downgraded Illinois bond status, Moody’s followed suit. S&P and Moody’s now both rate Illinois bonds just one level above junk bond status, the worst rating ever for a U.S. state. In response, JB Pritzker released the following statement:

“A day after Bruce Rauner once again failed to produce a budget, both S&P and Moody’s have now downgraded Illinois bonds,” said JB Pritzker. “Under Rauner’s failed leadership, Illinois’ general obligation debt is now a step away from junk, the lowest ever for a U.S state. What we’re seeing is a state economy in shambles as state debt skyrockets and Bruce Rauner stumbles past 700 days without a budget. This will have long term ramifications for the economy of our state and it will take years to clean up Rauner’s mess. We need a governor who understands how to get results in Springfield and it is clear to S&P, Moody’s, and Illinoisans across the state, that Bruce Rauner will never be up to the job.”

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