Follow us on Facebook
Why vote Republican Poll card ยท Keep 1. Give 3.
Logan County Republicans Central Committee · Illinois
A1Moody's, upgraded August 26, 2026. Still the lowest-rated state on Moody's scale.Capitol News Illinois
AS&P, upgraded early September 2026. Still the lowest-rated state on S&P's scale.Capitol News Illinois
A-Fitch, since November 2023; outlook raised to positive September 9, 2026.Bond Buyer
BBB-S&P on June 1, 2017 (Moody's Baa3): one notch above junk, the lowest ever for a U.S. state.Pensions & Investments

Tap a source to read it yourself. How we check our facts

Why a rating matters

A credit rating is how Wall Street grades the state's ability to pay back what it borrows. A lower grade means higher interest on every road, school and building the state finances, paid by taxpayers for decades. It tells you whether Illinois government can pay its bills. It doesn't tell you whether you can pay yours.

The way down

  1. 2009

    The state's general obligation rating falls out of the AA category. Source: Bond Buyer.

  2. 2015

    Moody's cuts Illinois to Baa1 and S&P to BBB+ in October, as the budget standoff begins. Source: Civic Federation.

  3. 2017

    June 1: S&P BBB- and Moody's Baa3, one notch above junk, the lowest ever for a U.S. state. Unpaid bills peak at $16.7 billion in November. Source: Pensions & Investments; State bond disclosure.

  4. 2020

    During COVID, Fitch cuts Illinois to BBB-, and all three agencies have the state one notch above junk. Source: Bond Buyer.

From 2003 to 2020 Illinois took 26 general obligation downgrades by one count; the governor's office counts 24 over 15 years. Counts differ by method. Source: Illinois budget impasse; Governor's office.

The way back

DateAgencyChangeSource
June 29, 2021Moody'sBaa3 to Baa2 (first upgrade in 21 years)Civic Federation
July 2021S&PBBB- to BBBChicago Sun-Times
April 21, 2022Moody'sBaa2 to Baa1WSIU
May 5, 2022FitchBBB- to BBB+ (two notches)Bond Buyer
May 6, 2022S&PBBB to BBB+Capitol News Illinois
Feb 23, 2023S&PBBB+ to A-WGLT
March 2023Moody'sBaa1 to A3Capitol News Illinois
Nov 7, 2023FitchBBB+ to A-Governor's office
Oct 23, 2025Moody'sA3 to A2Governor's office
Aug 26, 2026Moody'sA2 to A1Capitol News Illinois
Sept 2026S&PA- to ACapitol News Illinois

Eleven rating actions, twelve notches (Fitch's 2022 move was two notches at once).

What the agencies credit

Eight balanced budgets in a row, the old unpaid-bill backlog paid off, a rainy-day fund of about $2.5 billion, and about $11 billion less outstanding debt since FY2022. Source: State bond disclosure, Sept 2026.

What they still flag

Unfunded pensions, constitutional limits on changing pension benefits and taxes, and slower-than-average growth (Moody's); federal Medicaid and SNAP changes (S&P); pension underfunding and long-term liabilities above peers (Fitch). Source: Capitol News Illinois; Capitol News Illinois; Bond Buyer.

The upgrades are real, and paying the state's bills on time earned them. Illinois is still the lowest-rated state with Moody's and S&P.

More issues

The biggest billPensions47.8%funded: Illinois' five state pension systems, $143.5 billion short.Fifty years, both partiesHow Illinois got here20 of 24years of Democratic control of the governor's office and both chambers, 2003 to 2026.The $55.9 billion budgetWhere the money goes$55.9BGeneral Funds budget for FY2027, the largest in state history.

All the issues · Why vote Republican · How we check our facts

Springfield's choices land on Logan County.

Every race on the ballot counts, from the County Board to the Governor. Vote early at the Courthouse, Room 20, or on November 3.

Where do I vote?Why vote RepublicanSee the Republican line