Reuters logo
6 months ago
Illinois' low credit rating at risk without budget action-S&P
February 6, 2017 / 4:17 PM / 6 months ago

Illinois' low credit rating at risk without budget action-S&P

CHICAGO, Feb 6 (Reuters) - Illinois risks a credit rating downgrade and eroded economic growth prospects if the state fails to take action to fix its budget problems, S&P Global Ratings said on Monday.

S&P, which rates Illinois BBB with a negative outlook, said legislation boosting revenue and ending the state's nearly two-year budget impasse could improve the near-term fiscal outlook.

A package of bills before the state Senate includes measures to increase state income taxes and allow borrowing to pay bills.

S&P said it takes no position on that legislation.

Reporting By Karen Pierog and Dave McKinney

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below