Moody’s clears the air: Illinois under review for possible downgrade to ‘junk’ status because of debt crisis

By Michael Lucci
07/05/2017
Though the Illinois House of Representatives appears close to overriding Gov. Bruce Rauner’s veto of a tax hike budget plan, and thereby ending Illinois’ more than two years without a full-year budget, Moody’s Investors Service has said it might still downgrade the state’s credit, largely due to Illinois’ unsustainable debt.

TAGS: Bruce Rauner, budget, credit rating, Illinois House of Representatives, Moody's Investor Service, veto