Municipal Bond Credit Report: S&P, Moody's Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State

Municipal Bond Credit Report: The monetary problems plaguing the state of Illinois (not to mention its public pensions) have been widely documented here over the past few years, and today the rating agencies finally noticed, when in the span of a few hours, first S&P, then Moody’s downgraded Illinois to BB+/Baa3, respectively, both just one notch above junk, the lowest rating ever given to a U.S. state, as both agencies cited a long-running political stalemate over a budget shows no signs of ending… Link to Story