Next week, Illinois officials will try to sell some $800 million in bonds, despite the poor showings for Prairie State bonds by ratings agencies. Illinois is tied with California for the worst state bonds, according to Moody's, and Standard and Poor's has the Land of Lincoln listed as second worst. The state is hoping to use the funds from next week's sale to pay for capital projects.
"We’ve seen a lot of changes in the state and its finances to the good, with the tax increases that were approved last year, so we would anticipate the bonds will be well bid," said John Sinsheimer, director of capital markets for the state, according to WBEZ.
Illinois officials are looking to do another bond sale in March.