Sunday, January 27, 2013
Obama's Illinois now has the worst credit rating of any state in the nation
Standard & Poor’s Ratings Service has downgraded Illinois from an “A” rating to “A-minus”, making it the worst in the country. The New York ratings firm’s ranking means taxpayers may have to pay tens of millions of dollars more in interest when the state borrows money for roads and other projects. The downgrade is the latest fallout over the $96.8 billion debt to five state pension systems. The ratings came out because Illinois plans to issue $500 million in bonds soon.