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

Next Generation of Business Leaders Learn From an Internet Pro

Fresh
computer

Dozens of area high school students spent their morning with a top executive in the social media world

in Election 2014, Local

Senate Candidates Spar Over Treatment of Veterans

Fresh
durbin oberweis

Oberweis OK with veterans having an option to VA facilities

in Local

Not a Typical Morning for Some State Workers

fire

Woman saved from fire by state employees

in Local

Jacksonville Shooting Leaves One Dead

policetape

Jacksonville man is dead after a shooting near the Jacksonville School District Office