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April 17, 2014, 1:26 pm

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S&P Lowers State Credit Rating Because Of Pension Crisis


The State of Illinois has been slapped with another credit downgrade because of its failure to fix its pension crisis. 

 

Standard and Poor’s dropped the rating from “A” to “A-minus,” which is likely to mean increased interest costs for the state in a planned $500 million bond sale in February.

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