Marathon Pundit: ILL-inois: Moody's also lowers state's credit rating

Thursday, June 06, 2013

ILL-inois: Moody's also lowers state's credit rating

Illinois continues to get sicker. For the second time this week, the troubled state's refusal to enact pension reform has led to a credit downgrade.

From Crain's Chicago Business:

Another major credit rating agency downgraded Illinois for failing to resolve its $100 billion pension debt crisis.

Moody's Investors Service lowered the state's credit rating to A3 from A2 and maintained its "negative" outlook.