8:38 AM
cut to negative
Unknown
Moody's Investor Services revised the outlook for Illinois State Government $28 billion of general-obligation bonds to negative from stable. This was due to underfunded pensions.
Illinois Governor Pat Quinn mentioned that the pension problem is Illinois' fiscal cliff and needs to be addressed soon.
Link to source story from BLOOMBERG.
Illinois Governor Pat Quinn mentioned that the pension problem is Illinois' fiscal cliff and needs to be addressed soon.
Link to source story from BLOOMBERG.