Illinois on “Credit Watch” after Court Ruling

 

Following the Illinois Supreme Court ruling on Friday which declared the Illinois’ 2013 pension reform law unconstitutional, rating agencies placed the State of Illinois on Credit Watch.   Standard and Poors’ described the State as having “profound credit challenges.”

According to a report on Peoria Public Radio’s website, S&P expects to cut the State’s credit rating unless lawmakers develop a “credible” state budget.  Moody’s echoed S&P and stated that the ruling was negative for the state’s credit.

Peoria Public Radio Story