(Chicago, IL) — What’s lower than the lowest? That’s where Illinois‘ credit rating is after Moody’s Investors Service downgraded the state’s bonds to just two notches above junk status. Already the worst in the nation, Moody’s said the state’s budget impasse has left the state “increasingly vulnerable.” The downgrade to Baa2 from Baa1 means the state will pay more to borrow money for construction projects and other operating expenses. Governor Rauner’s office tried to lay the blame on House Speaker Michael Madigan and the Democratic majorities in the General Assembly.
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David Stewart/jab IL)
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