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1/25/13, "Illinois credit rating sinks to worst in nation," Chicago Tribune, Long, Garcia
"Illinois fell to the bottom of all 50 states in the rankings of a
major credit ratings agency Friday following the failure of Gov. Pat
Quinn and lawmakers to fix the state’s hemorrhaging pension system
during this month’s lame-duck session.
Standard & Poor’s Ratings Service downgraded Illinois in what is
the latest fallout over the $96.8 billion debt to five state pension
systems. The New York rating firm’s ranking signaled taxpayers may pay
tens of millions of dollars more in interest when the state borrows
money for roads and other projects."...via Free Republic
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