A credit ratings agency has removed Illinois from a credit watch since legislators approved a budget and ended a more than two-year impasse.
S&P Global Ratings said Wednesday the outlook on debt ratings is stable.
Illinois has the lowest credit rating of any state and agencies had warned of another downgrade to “junk'' status if lawmakers didn't approve a budget. The stalemate between Republican Gov. Bruce Rauner and the Democrat-controlled Legislature began in 2015. This month, legislators approved a budget with an income tax increase over Rauner's vetoes.