S&P Global Ratings

J.B. Pritzker
Brian Mackey / NPR Illinois

J.B. Pritzker is set to become the 43rd governor of Illinois on Monday. He won in part by promising to make college more affordable, improve the state’s finances, and reform the criminal justice system.

Statehouse editor Brian Mackey sat down with Pritzker over the weekend for a conversation focused on his policy agenda, the problems facing Illinois, and ethics in government.

frowning piggy bank
Carter Staley / NPR Illinois

A new report says Illinois state government is at “elevated risk” in the event of an economic downturn.

Capitol in fog
Amanda Vinicky / NPR Illinois

As Illinois lawmakers try to pass a state budget by Thursday, credit rating agencies say they’re less focused on the timing of a spending plan than they were a year ago.

Michael Madigan
Brian Mackey / NPR Illinois

Two bond rating agencies say Illinois is on the right path with the budget plan passed Sunday in the state House of Representatives.

Brian Mackey / NPR Illinois

A day after the Illinois General Assembly ended it’s spring session without passing a budget, two bond rating agencies have downgraded the state’s credit.

The actions, by S&P Global Ratings and Moody's Investors Service, leave state government debt just one step above “junk” status.

Digging a hole. A really deep hole.
David Stillman / Flickr.com/stilldavid (CC-BY-NC)

Gov. Bruce Rauner will make his annual budget address to the Illinois General Assembly this Wednesday. It comes as state government has gone more than 19 months without a real budget.

That’s led the financial experts at credit rating agencies to issue a series of downgrades and dire assessments. The latest is called "For Illinois, Having a Plan Beats No Plan." It comes from S&P Global Ratings, where Gabriel Petek analyzes state governments.

Examining Financial Health (stethescope on piggy bank)
https://www.flickr.com/photos/socialeurope / EU Social

Illinois' fiscal health continues to tumble, in the eyes of the analysts who assign credit ratings.

Moody's. S&P. Fitch. All three of the nation's big credit rating agencies have taken notice of the state's ongoing budget impasse.

None are impressed with what they're seeing. 

Brian Mackey/WUIS

A major credit rating agency says the next two months will be "critical" for the future of Illinois' finances. The key question is whether to make a temporary tax hike permanent.

Like most of the big credit rating agencies, Standard & Poor's has been bearish on Illinois finances — lowering the state's credit rating four times in recent years.

Jamey Dunn
mattpenning.com 2014 / WUIS/Illinois Issues

McGraw-Hill, the parent company of the world’s largest credit rating agency, Standard and Poor’s, was slapped with lower bond ratings than the state of Illinois in February.