Ratings

Kroll Bond Rating Agency also affirmed the city’s general obligation bond rating at A.

Fitch Ratings also maintained a negative outlook on BART.

Economic growth after the pandemic and maintaining structural balance and reserves will influence whether Fitch ultimately lifts the state to AAA from AA-plus.

Better funding levels prompted S&P Global Ratings to revise the outlook on the state's BBB-plus GO bond rating to positive from stable.

Pitfalls loom despite improved bond ratings and an improving fiscal picture, according to members of the state's fiscal control board.

Illinois' single-employer pension plans are straining the budgets and ratings of those local governments without the tax base, flexiblity, and fiscal discipline to tackle rising costs, S&P says in a special report.

Federal relief and rising revenues drew a change in outlook from Moody's to stable from negative, but Moody's remains the only agency to rate Chicago at junk.

“There’s been a lot of discussion about New York City and its future in the public domain. And when that happens it makes sense to solicit multiple opinions,” said Kroll Senior Managing Director Karen Daly.

A brightening revenue and liquidity picture and improved fiscal governance and management were cited as Moody's assigned a positive outlook.

The two issuers that defaulted suffered from pre-existing conditions, according to Moody's analysts.

The Metropolitan Pier and Exposition Authority and the Illinois Sports Facilities Authority are heading into the bond market, buoyed by state rating upgrades.

The public transit agenices are benefitting from sales taxes that fared better than expected through the pandemic and the state's stronger fiscal footing

Moody's Investors Service upgraded the county — home to Detroit — A3 from Baa1 while also elevating its rating outlook to positive.

S&P followed Moody's in raising Illinois' general obligation rating, moving it to BBB as the state's fiscal picture brightens.

The Fitch Ratings upgrade applies only to GO debt — the city's issuer default rating remains AA-plus. The GOs benefit from California’s 2016 statutory lien law.

S&P said the rating on the senior living revenue bonds Capital Trust Agency issued for borrower H-Bay Ministries Inc. of Texas will now be withdrawn in 30 days.

Participants consider whether Illinois' recent upgrade is a one-off due to the flood of federal aid or a turning of the tide toward better fiscal decision-making that could help it climb further up the rating scale.

Michigan's fiscal recovery led S&P Global Ratings to lift its rating outlook to stable from negative. Fitch boosted its outlook to positive earlier this month.

Ridership displacement, remote work and online shopping amplify pre-pandemic challenges such as large capital plans.

After more than a decade of ratings deterioration, the lowest-rated state won an upgrade Tuesday, taking its Moody's rating to Baa2.