Moody's Investment Services


Illinois could see its already worst-in-the-nation credit rating sink further -- all the way down to "junk" status.  Moody's Vice President Ted Hampton said investors have asked the ratings agency if that's even possible.

Burlington has received some good news and some bad news in regards to its credit rating.

It appears Burlington will have to cut staff and raise taxes to balance the city's budget for the upcoming fiscal year.

Rich Egger

Moody's Investors Services downgraded the credit outlook for the state of Illinois from stable to negative. The service cited the "severe pension funding shortfall."

Illinois Treasurer Dan Rutherford said Illinois has the worst credit rating of any state in the US.

“If this doesn't get fixed, then I would hope that those out there that look for services of their Illinois government, to understand that there will be absolutely no ability to increase or even perhaps sustain their funding level," Rutherford said. 

Burlington Addressing Finances

Nov 9, 2012

Burlington is taking steps to get its financial house in order.