State Bond Rating Cut After Budget Failure

The day after Illinois lawmakers failed once again to reach a budget deal by the end of the regular session, the state’s credit rating is taking a hit.  S&P Global Ratings is dropping the state’s debt grade to BB+, one step above junk status.  The rating agency says the downgrade reflects the deterioration of the state’s fiscal condition that’s a by-product of the budget stalemate.  Governor Rauner blamed House Speaker Michael Madigan and the Democrats for the rating cut, while a spokesman for Madigan called that comment “typical Rauner incompetence.”

RELATED CONTENT

Three Arrested in Connection with Toddler Shot in Joliet Romeoville’s Police Department Shares Report On Mayor’s DUI Arrest Joliet Public Library receives 2018 ALA Excellence in Library Programming Award Shorewood HUGS Donates to Forest Preserve District for K-9 Care Demolition Continues On The Old Silver Cross Hospital In Joliet State Senator Co-Sponsors Bill To Curtail Unwanted Robo-Calls
Comments