Illinois risks rating cut to junk even with budget: Moody's

Illinois risks rating cut to junk even with budget: Moody'sBy Dave McKinney and Karen Pierog CHICAGO (Reuters) – Even if Illinois’ House of Representatives takes action to enact a new budget on Thursday, the state still risks a downgrade in its credit rating to junk, Moody’s Investors Service warned on Wednesday. The Democratic-controlled House on Thursday will attempt to overturn Republican Governor Bruce Rauner’s vetoes of spending and tax increase measures aimed at ending the state’s unprecedented two-year budget impasse. Moody’s said it placed Illinois’ Baa3 rating, which is one step above the junk level, on review for a possible downgrade.



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