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August 29, 2014, 7:15 am
970 WMAY News

Credit Rating Agency Gives Negative Outlook To Illinois


At least one credit rating agency is putting Illinois on notice to fix its pension mess soon, or else. 

 

The Fitch rating agency has given Illinois a negative outlook because of the impasse over pension reform.  The move doesn’t affect the state’s credit rating or borrowing costs yet, but the agency says it will downgrade the credit rating if no action is taken in the next six months. 

 

Governor Pat Quinn has warned that credit downgrades are likely unless the state legislature takes action on the pension crisis.

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