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September 21, 2014, 11:14 pm
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State Faces Credit Downgrade Unless Pension, Budget Messes Are Fixed


There are new warnings about bad things to come unless Illinois gets its fiscal house in order. 

 

Standard and Poor’s says another credit rating downgrade is likely unless the state addresses its pension and budget issues.  Part of the outcome hinges on whether the courts uphold or reject the state’s pension reform law, but S&P says the state must also correct “structural imbalances” in its budget.

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