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Illinois' credit rating improved to A2 due to better finances, but deficits and tax debates persist.
Moody’s upgraded Illinois’ credit rating to A2 from A3, citing improved fiscal management, record $2.4 billion in reserves, and timely budget passage since 2019.
The 10th upgrade under Governor JB Pritzker reflects progress in reducing unpaid bills and enhancing financial stability, though challenges remain, including high pension liabilities and debt.
The state faces a projected $2.2 billion deficit next year and ongoing fiscal pressures from rising costs and property taxes.
Meanwhile, lawmakers debate expanding tax breaks for large developments, sparking concerns over unfair tax shifts to homeowners.
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La calificación crediticia de Illinois mejoró a A2 debido a mejores finanzas, pero persisten los déficits y los debates fiscales.