bond rating

Pension Mess Blamed
6:30 pm
Wed August 29, 2012

Illinois Bond Rating Takes a Hit

Rich Egger

Standard & Poor's downgraded Illinois' credit rating Wednesday, citing concerns over the state's inability to address its massively underfunded employee pension plans.

The action was taken less than two weeks after a special session in which Illinois lawmakers failed to reach an agreement on changing the state pension systems. Illinois still ranks 49th among the states, better only than California.

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