News

S&P Revises Illinois Outlook Downward

S&P Revises Illinois Outlook Downward

Photo: Newsradio WTAX

Standard & Poor’s Ratings Services has changed its outlook on Illinois’ credit rating for the worse.

It revised its outlook from “developing” to “negative” on Illinois’ A-minus rating. S&P says the state’s $35.7 billion budget isn’t structurally balanced. It also cites an Illinois Supreme Court ruling that found the state can’t force retirees to pay for part of their health care.

S&P says if the pension overhaul is found unconstitutional it could have a “profound and negative effect on Illinois’ budgetary performance and liquidity.”

Recent Headlines

in Local

Manar, Scherer Introduce High Speed Rail Legislation

High-speed rail confrence (2)

A couple of local lawmakers are trying to put some teeth into a high speed rail agreement that will benefit Springfield minority communities.

in Local

Springfield Metro Unemployment Level Lowest Since 2007

unemployment

The Springfield metro area has recorded another drop in unemployment.

in Local

Springfield Armed Robbery Suspect Caught on Camera, Police Seek Tips

natures_select_suspect

A man wielding a box cutter tried to hold up a new pet store near downtown Springfield

in Local

Fuel Leak Closes Road Near New Berlin

policetape2

No one was injured in the crash.

in Local

Salaita Sues U of I Over Rescinded Job Offer

university illinois

A professor who lost a University of Illinois job offer over his profane, anti-Israel Twitter messages has sued.