Moody’s still eyeing Illinois credit downgrade, says school funding reform unresolved

https://www.ilnews.org/news/economy/moody-s-still-eyeing-illinois-credit-downgrade-says-school-funding/article_ebd048a6-68c1-11e7-9313-f35ab9a49af9.html

SPRINGFIELD, IL  –  (Greg Bishop, Illinois News Network.  Please click on the link above for the full story.  Here is an excerpt below.)

Moody’s Investors Service said Friday they’re still looking negatively at Illinois for a possible downgrade despite the budget and tax hike imposed by the legislature.

One issue Moody’s raised is the uncertainty of funding for K-12 districts “since [schools districts] will not receive revenue appropriated by the new budget until a separate, evidence-based funding model is enacted.”

Gov. Bruce Rauner said Friday he’s certain schools will open.

“Schools are going to open,” Rauner said. “We’re going to make sure schools get open, and we’re going to make sure that it’s done on a basis that’s fair for taxpayers all across the state and it doesn’t benefit only one community at the expense of residents of other communities.”