SPRINGFIELD – Moody’s Investors Service, a major credit rating agency, revised the state’s outlook to “positive” – a move that can be attributed to the stability and responsibility of the Illinois Senate Democratic Caucus.

“Moody’s is recognizing what has been recognized time and again with the state’s nine consecutive credit upgrades in the last two years: our fiscal responsibility is paying off,” said Senate Majority Appropriations Leader Elgie R. Sims, Jr. (D-Chicago). “Our future looks bright and I look forward to continued collaborative efforts with my colleagues to keep Illinois on this upward economic trajectory.”

Moody’s outlook change comes following nine credit rating upgrades that have come from the fiscally responsible budgeting approach of the Illinois Senate Democratic Caucus.

In recent years, Senate Democrats have led budgets and subsequent legislation to shore up the state’s cash reserve, reduce its backlog of bills and prioritize relief for working families.

“Revision of the outlook to positive is driven by continued improvement in fund balance and budget reserves, which has been supported by stability in revenue and state decisions to shore up financial health,” according to Moody’s. “Affirmation of the ratings recognizes lingering downside risks to the state's credit profile, including outsize liabilities stemming from unfunded pensions.”

In the coming weeks, members of the Illinois Senate Democratic Caucus will continue budget negotiations for Fiscal Year 2025 by building on five years of historic fiscal progress.