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.
Illinois' pension red ink grows by $17 million each day.

Related post:

ILL-inois: Credit rating lowered again

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