Standard & Poor's

Illinois Budget
9:58 am
Mon July 28, 2014

Illinois' Credit Prognosis: Negative

Originally published on Wed July 23, 2014 6:29 pm

Wall Street's view of Illinois' financial health has taken a hit, thanks largely to the state budget that took effect at the start of this month. Pensions also continue to be a drag. 

When Illinois Democrats passed the state's latest budget, many seemed to hold their nose. Credit ratings agencies are more direct: Standard & Poors has revised Illinois' credit outlook to "negative." 

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Settlement with Bank
10:29 pm
Tue November 19, 2013

Money Coming in for Illinois Pensions

Credit Rich Egger

Illinois' pension funds will be getting $100 million in restitution from J.P. Morgan Chase.

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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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