S&P lowers Illinois credit rating, blames pensions
CHICAGO — Illinois' already disastrous financial situation worsened Friday as another credit rating agency downgraded its rating to the worst of any state in the country, blaming lawmakers' ongoing failure to resolve a multibillion-dollar pension crisis.
Standard & Poor's rating service said Friday that the rating on the state's general obligation bonds was downgraded to A- from A. The agency also gave an A- rating to $500 million in general...
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