Statement from Cook County Board President Toni Preckwinkle on Recent Credit Ratings Upgrades
We are pleased with Fitch Ratings decision to upgrade Cook County’s ratings from A+ to AA- with a stable outlook. Furthermore, S&P also moved the outlook for the County to stable from negative and Moody’s reaffirmed its rating as well. We appreciate the recognition of our improvement in operating results, work to increase reserves, sound financial management, notable improvement in pension funding and work to stabilize our Health System’s finances.
This is the first upgrade under my administration and a testament to the hard work of our finance team and the leadership of the Board of Commissioners.
We remain dedicated to building on the progress made over the years of passing balanced budgets and working to secure the County’s financial future. This upgrade is an encouraging indication that our efforts to create long-term fiscal strength and stability are being recognized by the rating agencies.