Illinois State Treasurer’s Office News Releases

SPRINGFIELD — State Treasurer Michael Frerichs today urged Gov. Rauner to suspend his campaign and initiate meaningful budget negotiations or risk plunging the state into junk bond status. Illinois has incurred six credit downgrades since Rauner became governor because Illinois has gone two years without a spending plan and has a $12 billion bill backlog. Moody’s Investment Services warns of another credit downgrade if the Governor and General Assembly do not strike an agreement by May 31. “If we do not have a budget at the end of this month,…