Moody's gives Illinois another credit upgrade

"This credit upgrade, our second one this year, is the result of the steps we've taken in Illinois to put ourselves on firm fiscal footing," Gov. JB Pritzker said in a statement."We have balanced our budget, paid our bills on time, cleared out decades of debt, made extra pension payments, and saved billions for a rainy day."

The rating agency said it had updated the state's"issuer profile score" in the governance category to 2 from 3. Illinois'"rainy day" fund is slated to reach its highest-ever balance of more than $1.9 billion by the end of the fiscal year. Moody's also rated the state's financial outlook as"stable," saying that such an outlook"balances the financial progress being made by the state with the uncertainty of the present economic climate."

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Moody's downgrades Signature Bank to junk, places six U.S. banks under reviewRatings agency Moody's on Monday downgraded the debt ratings of collapsed New York-based Signature Bank deep into junk territory and placed the ratings of six other U.S. banks under review for a downgrade. Guess it's time to move your money to a big bank Moody's should be a meme at this point. Little late to the party huh guys? Horses, comma, barn doors.
Source: Reuters - 🏆 2. / 97 Read more »