Illinois’ Credit Rating Downgraded

Illinois House Passes Budget Plan_09068378-159532

Just when you thought it couldn’t get any worse, Illinois’ credit rating takes another hit.

Moody’s issued a bond downgrade Thursday, citing the state’s ongoing budget stalemate.  Illinois’ credit now stands just two notches above junk status.  The move comes just as the state planned to borrow $550 million.  As a result of the downgrade, it will now cost more in interest to borrow that money.

Gov. Bruce Rauner (R-IL) issued a statement blaming House Speaker Michael Madigan and the democrats.  “Every rank-and-file democrat who blindly followed the Speaker down this path is directly responsible for the downgrade.”

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News Video

Made in the Stateline

More Made in the Stateline

Education Matters

More Education Matters

Behind the Badge

More Behind the Badge

Stateline Strong

More Stateline Strong

Trending Stories