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Illinois Now With Worst Bond Rating In Nation

January 25th, 2013

Illinois now has the worst bond rating in the nation.  Standard & Poors dropped the rating again today, just two weeks after Fitch issued a downgrade, both citing the state’s failure to get the 96-billion dollar pension system under control.   House GOP leader Tom Cross says the downgrade is just another indication of the gravity of Illinois’ fiscal crisis.  He says the state can’t afford continued downgrades at a time when they urgently need to restore stability and balance to the state’s fiscal climate.  Cross says the General Assembly must reach a deal on pensions this spring in order to avoid further damage to the credit rating.


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