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BRIEF-Moody's confirms Illinois' Baa3 GO and related ratings, affecting $32 billion of debt; outlook negative
July 20, 2017 / 7:10 PM / a month ago

BRIEF-Moody's confirms Illinois' Baa3 GO and related ratings, affecting $32 billion of debt; outlook negative

July 20 (Reuters) - Moody's

* Moody's confirms Illinois' Baa3 GO and related ratings, affecting $32 billion of debt; outlook negative

* Says confirmed Illinois' GO bond rating at Baa3, following passage of budget legislation that alleviates immediate liquidity pressures‍​

* Says while budget passage alleviates immediate threats to the state's credit, long-term challenges remain​

* Says Illinois' outsized net pension burden will keep growing in coming years, despite certain reforms included in budget legislation

* Says Illinois' negative outlook is based on the implementation risks in enacted budget, expectations of continued pension liability growth Source text : [ID:bit.ly/2uNeifg]

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