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S&P, Moody’s Downgrade Illinois to Near Junk, Lowest Ever for a U.S. State – Bloomberg

June 1, 2017

Illinois debt downgraded to the lowest rating ever give to a state.  Democrats finally ran out of other people’s money.

Let them default so they can never borrow again.  RM

Illinois had its bond rating downgraded to one step above junk by Moody’s Investors Service and S&P Global Ratings, the lowest ranking on record for a U.S. state, as the long-running political stalemate over the budget shows no signs of ending. S&P warned that Illinois will likely lose its investment-grade status, an unprecedented step for a state, around July 1 if leaders haven’t agreed on a budget that chips away at the government’s chronic deficits. Moody’s followed S&P’s downgrade Thursday, citing Illinois’s underfunded pensions and the record backlog of bills that are equivalent to about 40 percent of its operating budget.

Source: S&P, Moody’s Downgrade Illinois to Near Junk, Lowest Ever for a U.S. State – Bloomberg

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