Moody's

A major credit rating agency says Illinois' rating won't be lowered to ``junk'' but warns the state still faces serious financial challenges and long-term risks.

Moody's Investors Service on Thursday affirmed Illinois' current rating with a negative outlook, saying a downgrade remains possible in the next two years.

A major bond-rating agency says Illinois' fiscal challenges linger despite approval of the first state budget in two years.

Moody's Investors Service issued a report Friday. It notes that an income tax increase approved this month will generate nearly $5 billion more a year.

Even though the Illinois House voted to override the governor's veto to give the state its first budget since 2015, the state's bonds may still reach "junk" status, according to Moody's Investors Service.

In a press release, Moody's says they've placed the state's rating "under review for possible downgrade."

Illinois Public Radio's Jenna Dooley explores just what it means to be "under review" by Moody's Investors.

SIU President Randy Dunn talks with WSIU's Jennifer Fuller about recent credit downgrades and warnings, and how the university can rebound from difficult financial issues.

Standard and Poor's has upgraded Jackson County's bond rating.

S & P says the upgrade from A-minus to A indicates the county's sustained budgetary improvement and flexibility.

Gov. Bruce Rauner's administration says it wants to bypass a legal recommendation in order to expedite the resolution of its case on whether negotiations have stalled between the state and the largest state worker's union.

Rauner's administration says a quick resolution will help Illinois save $35 million to $40 million per month in higher health insurance costs for workers.

A major credit rating agency has downgraded Illinois' rating to two levels above ``junk'' status, citing the ``political gridlock'' that's prevented the state from getting a balanced budget for more than a year.

Moody's Investors Service lowered Illinois' rating Wednesday on $26 billion in debt by one level, to Baa2. The downgrade also affects $2.75 billion in revenue bonds.

Illinois could see its already worst-in-the-nation credit rating sink further ... all the way to "junk" status.

The state's budget impasse has dropped Southern Illinois University's credit rating.

The Moody's credit rating agency has downgraded $26.8 billion in Illinois' general obligation bonds, saying the move was due to the state's weakening financial position during the year.

A credit analyst with Moody's says Illinois' bond rating will remain unchanged, despite the state entering its third month without a budget. But the chances of a downgrade increase the longer gridlock continues.

Illinois has the nations' lowest credit rating -- a grade that symbolizes its fiscal troubles, and adds to them; a lower score makes it costlier to borrow.

But the rating won't drop any further just yet.

A credit analyst with Moody's says Illinois' bond rating will remain unchanged ... despite the state entering its third month without a budget.  But, the chances of a downgrade increase the longer gridlock continues.

A major credit rating agency has come out with a blunt assessment of Gov. Bruce Rauner's proposed budget for Illinois.

The budget Rauner presented last week calls for massive cuts in state spending -- without any increase in taxes.

Moody's Investor Service dismisses the chance that parts, let alone all, of the plan will ever become a reality.

Credit ratings agencies have taken notice of the court ruling on Friday that tossed out Illinois’ law reducing workers’ pensions. But they’re not worried enough to lower the state’s rating.

Illinois’ credit rating remains unaffected by last week’s court ruling, which found a landmark pension law to be unconstitutional. But agencies are watching.

Credit ratings are important as, the lower the rating, the more it costs the state to borrow.

It’s also an important indicator of a state’s relative fiscal health.

A major credit-rating house reports that Illinois' pension liability as a percentage of its revenue is far and away the nation's highest.

A major credit rating agency says Illinois' public universities are facing major financial challenges that will continue to affect their credit.

Recent downgrades to Illinois' credit rating could soon have an effect on universities all over the state.

Gov. Pat Quinn has called a special session for lawmakers later this month to focus on finding a solution to the nearly $100 billion pension crisis.