IL: Pols’ credit rating could be downgraded to “junk”

Source: ABC News

“Illinois is on track to become the first U.S. state to have its credit rating downgraded to ‘junk’ status, which would deepen its multibillion-dollar deficit and cost taxpayers more for years to come. S&P Global Ratings has warned the agency will likely lower Illinois’ creditworthiness to below investment grade if feuding lawmakers fail to agree on a state budget for a third straight year, increasing the amount the state will have to pay to borrow money for things such as building roads or refinancing existing debt.” (06/24/17)