CHICAGO – State Senator Elgie R. Sims, Jr. is praising the work done by the Illinois General Assembly to affirm the Illinois Funds – a mutual investment used by local governments – top AAA rating.

“When I look at the budgets we have passed in recent years, I see the work and years of fiscal responsibility paying off. We were able to pay down our bills, put money back in the pockets of the state’s hardworking families, and prioritize our local governments,” said Sims (D-Chicago). “Illinois is a stand-out state when it comes to putting the needs of our residents first – and we do so in a responsible, equitable way.”

The Illinois Funds lets government agencies use the Illinois State Treasurer’s resources to safely invest their funds while enjoying the economies of scale available from a $19+ billion pooled fund investment portfolio. The AAA rating by Fitch is the firm’s highest rating which is based on the pool’s credit quality, maturity, diversification, and management.

“The top AAA rating from Fitch Ratings has seen in recent years shows our fiscally responsible budgeting approach is working and is independent proof that our state is headed in the right direction,” said Sims.

The rating demonstrates that the fund has an extremely strong capacity to maintain principal stability and limit exposure to losses due to interest rate and/or credit risk.