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October 20, 2014, 4:17 pm
970 WMAY News

Illinois To Sell Bonds In Shadows of Poor Bond Ratings


Illinois will try to sell a new round of bonds this week… despite weak outlooks from credit rating agencies and a volatility in the bond market that could drive the state’s interest costs even higher.

 

Standard and Poor’s gave Illinois an A-minus ranking for its bonds, with a negative outlook… barely a passing grade in the competitive bond market.

 

And that low grade could force Illinois to offer higher interest rates to bond buyers… potentially adding millions to the amount it will eventually take to pay off those bonds, which will be used to finance construction projects.

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