Illinois’ credit outlook is getting slightly positive gains since Governor Quinn signed pension reform into law. Standard & Poor’s has improved its outlook on Illinois’ bonds from "negative" to "developing." Credit analyst Robin Prunty says the change could lead to a sustainable path to fiscal stability in Illinois. It’s the first positive movement for Illinois bonds in years, but it may not be the last.
Moody’s called the new law a "credit positive" and said it may even be the largest reform package implemented by any U.S. state. Governor Quinn says the positive shift is a direct result of the bipartisan, comprehensive pension reform law.