05312021CM0291 CHICAGO—Fitch Ratings released a revised outlook of Illinois’ General Obligation bonds from negative to positive. State Senator Elgie R. Sims, Jr. released the following statement:

“Fitch Ratings Agency’s change of Illinois’ financial outlook from negative to positive reflects the state’s commitment to putting our fiscal house in order, which includes prioritizing paying the state’s backlog of bills - down from over $16 billion, at the height of the Rauner budget impasse, down to a normal payment cycle and nearly $3 billion today.

“As the Senate Appropriations Committee Chairman, I am committed to taking a fiscally responsible approach to our state’s finances and putting Illinois on a path toward a brighter future.

“The new outlook from Fitch highlights several key points where the General Assembly in partnership with the Governor have worked together to tackle the challenging finances of our state.

“While I am proud of the positive reports released by the bond rating agency, because they show Illinois is on the right path, I know more must be done to provide for our most vulnerable, educate our young people, keep our communities safe, create good jobs and grow our economy, this is how we will keep our fiscal house in order and I remain committed to doing the work necessary to ensure that Illinois continues to enact responsible budgets and remains on an improved path toward fiscal stability.”

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