
Moody’s Lowers Illinois’ Credit Rating Over Budget Impasse
Moody's Investors Services has lowered the state's credit rating another level, to Baa2, two levels above "junk" status, citing the "political gridlock" that's blocked Illinois from having a budget for more than a year. Gov. Bruce Rauner says this news "underscores the need for real structural changes to repair the years of unbalanced budgets and deficit spending by the majority party on Illinois’ finances."