Sen. Scott Bennett

CHAMPAIGN – State Senator Scott Bennett (D-Champaign) is pleased to see Fitch Ratings has revised its outlook on Illinois’ General Obligation bonds from negative to positive, a direct result of responsible spending.

“I’m glad to see Fitch Ratings raise Illinois’ financial outlook and this is a sign that the actions we’ve been taking are fiscally responsible,” Bennett said. “We have worked hard over the past couple of years to put Illinois on a path toward fiscal responsibility.”

Fitch’s is the third ratings agency to upgrade the state’s forecast, in addition to Standard and Poor’s, and Moody’s.

According to Fitch’s analysis, the state budget for the upcoming fiscal year provides Illinois a stable foundation for further financial improvement. Recent debt payments and a reduction of nearly a billion dollars in spending since 2020—without sacrificing funding for pensions, K-12 or higher education—suggest responsible budget management and movement toward fiscal stability.

Fitch’s full analysis is available here.