Fitch Ratings says Illinois is the worst in the nation when it comes to debt and pensions as a share of residents’ personal income. The state's total debt amounted to more than 28 percent of Illinois residents’ personal income.
Moody’s wants to update its rating methodology to increase the influence that debt and pensions have on the overall ratings of state governments. That’s bad news for Illinoisans and the state’s economy. Illinois’ credit is already just one notch above junk – the worst of any state.