October 11, 2017 / 9:28 PM / a year ago

BRIEF-‍Fitch says rates $6 bln Illinois GOs 'BBB' outlook negative​

Oct 11 (Reuters) - Fitch-‍

* Fitch says rates $6 billion Illinois GOs ‘BBB’; outlook negative​

* Fitch rates $6 billion Illinois GOs ‘BBB’; outlook negative​

* Fitch says ‍’BBB’ rating reflects illinois’ weak operating performance and fiscal decision making over course of several years ​

* Fitch says ‍Illinois’ financial resilience has been materially weakened by two-year period in which it spent far in excess of tax revenues​

* Fitch, on $6 billion Illinois GOs, says negative outlook reflects uncertainties related to successful implementation of budget

* ‍Fitch says despite action taken to significantly increase tax revenues, illinois remains “poorly positioned” to address a future economic downturn​

* Fitch says federal court ruling that limited Illinois’ ability to defer medicaid payments poses some concern about extent of budgetary control​ Source text for Eikon:

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