Illinois Credit Receives Bad News

By WTVO WQRF Newsroom

Published 07/25 2014 11:58AM

Updated 07/25 2014 11:59AM

SRPINGFIELD - The state has been paying down its debt, but not everyone is impressed.

The Standard and Poor's Financial Rating Company has lowered the state's outlook to "negative." The change shows the company has less confidence in the state's ability to balance its budget and pay its bills.

Lower or negative ratings mean the state must offer higher interest rates to attract investors; a change which will cost taxpayers more.

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