State Rep. Meyers-Martin Applauds Illinois’ Recent Credit Rating Upgrade
Meyers-Martin Applauds Illinois’ Recent Credit Rating Upgrade (Matteson, IL) — Illinois has seen another bond upgrade by Fitch Ratings, marking the ninth upgrade in the last two years. Illinois suffered a series of eight credit rating downgrades between 2015 and 2017. Southland State Representative Debbie Meyers-Martin, D-Olympia Fields, is celebrating, releasing the following statement:
“I was proud to help pass this year’s budget which reflects Illinoisans’ desire for fiscal responsibility,” Meyers-Martin said. “I am committed to repairing the calamitous effects of the Rauner administration’s budget impasse and major financial institutions are taking note.”
Ratings reflect a state’s credit quality. This most recent increased credit rating from Fitch Ratings highlights the growing strength and stability of Illinois’ fiscal house and allows the state to borrow at a lower interest rate, thereby saving taxpayers millions of dollars each year. Two other major financial institutions, S&P Global and Moody’s, have also increased Illinois’ credit rating to an “A” or “stable” rating.
“This most recent credit rating increase moves the goals of this year’s budget forward. Instead of being bogged down by higher interest rates, Illinois will have more funds to repair our roads, improve our schools and provide vital services to seniors.”
Meyers-Martin Applauds Illinois’ Recent Credit Rating Upgrade
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