24/7 Newsfeed

Put Reason 24/7 on Your Site

RSS

Follow Reason 24/7 on Twitter and via RSS

S&P Hits Illinois' Credit Rating over Pensions

Continuing pension problems have earned Illinois another reduction in its credit rating.

Standard & Poor's Ratings Services announced Wednesday that it is lowering Illinois' general obligation rating to A from A-plus. The decision is based on weak funding for government pensions and a "lack of action on reform measures."

S&P had issued a warning in June that this might happen.

Source: AP. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

  • Brutus||

    What lack of reform measures? Springfield jacked up income taxes 67%...and then promptly increased spending.

advertisement