WJBD Radio

Images

Now Playing

Local News

WJBD - Local News - S&P Lowers Illinois Credit Rating, Blames Pensions

S&P Lowers Illinois Credit Rating, Blames Pensions

By The Associated Press

CHICAGO (AP) - Standard & Poor's rating services has lowered Illinois' credit rating, blaming the state's pension problems.  

The New York-based agency said Friday that the rating on the state's general obligation bonds was downgraded to A- from A. The agency also gave an A- rating to $500 million in general obligation bonds that the state plans to release in February. The agency says the outlook is negative.  

Standard & Poor's credit analysts say the downgrade reflects what the agency sees as the state's "weakened pension-funded rations" and lack of action on reform measures to improve the state's worst-in-the-nation pension crisis. Illinois has a $96 billion pension deficit.

See other LocalNews news:

Prayer Requested for Critically Injured Salem Youth Undergoing Surgery Thursday
Fire Destroys Home North of Mt. Vernon
Salem Firemen Battle Four Grass and Woods Fires Tuesday
Illinois Has Approved 2,000 Medical Marijuana Patients
Illinois Corn Acreage Projected to Decline in 2015




Loyal Listener Club

Club Login

Follow Us At

This Site logo