February 15, 2018 / 10:15 PM / 10 months ago

BRIEF-S&P Says Illinois Embarks On A Fiscal High-Wire Act In New Budget Proposal

Feb 15 (Reuters) - Standard & Poor’s Financial Services LLC:

* S&P SAYS ILLINOIS EMBARKS ON A FISCAL HIGH-WIRE ACT IN NEW BUDGET PROPOSAL

* S&P SAYS BELIEVE ILLINOIS HAS MINIMAL CAPACITY TO WITHSTAND ANOTHER PROTRACTED BUDGET NEGOTIATION STANDOFF

* S&P SAYS ILLINOIS BUDGET FORESEES A SMALL GENERAL FUNDS SURPLUS MATERIALIZING IN FISCAL YEAR 2019 ‍​

* S&P - ILLINOIS’ MODEST PROJECTED SURPLUS, CONCURRENT STEMMING OF GROWTH IN BACKLOG OF UNPAID BILLS ARE CRUCIAL TO PRESERVATION OF FUNDAMENTAL CREDITWORTHINESS ‍​

* S&P - FOR ILLINOIS GOVERNOR’S PLANNED SURPLUS TO MATERIALIZE, AGREEMENT FROM THE LEGISLATURE ON “SEVERAL MAJOR POLICY CHANGES IS NECESSARY”

* S&P SAYS ILLINOIS EMBARKS ON A FISCAL HIGH-WIRE ACT IN NEW BUDGET PROPOSAL ‍​ Source text for Eikon:

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