Inside these posts: State of Ilinois

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Moody’s lowers outlook on Illinois to negative

Moody’s Investors Service revised the outlook on Illinois’ A1 general obligation debt rating to negative from stable, citing intensified financial stress facing the state.

“The state reported a very large negative fund balance for fiscal 2009 and has faced fragile economic conditions and continuing uncertainty over its ability to meet pension funding obligations,” Moody’s said in a statement. Get the full story »