Reuters has published an article citing Moody’s which indicates that even with a budget Illinois is still being reviewed for a possible downgrade to junk. (Note: The article was written before the Illinois House of Representatives overrode Governor Rauner’s veto.)
Moody’s analyst stated, “On both those fronts, it’s not yet clear if the legislation being enacted will have a substantial and clear positive effect.” The Moody’s analyst was discussing the State’s huge unfunded pension liability and its $15 billion in unpaid bills.
