Statement on Illinois:
Moody’s cuts Illinois general obligation (GO) bond rating one notch to A1 from Aa3
- Affects $29B in debt.
- Moody’s cites Illinois’ reliance on non-recurring and uncertain budget measures.
And regarding Houston:
Moody’s cuts outlook to Stable from Positive
- Impacts about $3B of debt.
- The revision of the outlook to stable from positive reflects Moody’s expectation that the current economic conditions will have a more significant impact on city financial margins than previously anticipated as well as a number of potential downside economic risks.

