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Illinois risks rating downgrade without budget deal-Moody's
March 30, 2017 / 2:07 PM / 8 months ago

Illinois risks rating downgrade without budget deal-Moody's

CHICAGO, March 30 (Reuters) - Illinois’ already low credit rating could be downgraded if the state does not end its record-breaking 21-month budget impasse over the next two months, Moody’s Investors Service said on Thursday.

The credit rating agency said the state is at a “critical juncture,” and that failure to reach a budget consensus by the May 31 end of the current legislative session would “signal deepening political paralysis, heightening the risk of creditor-adverse actions.”

Reporting By Karen Pierog; Editing by Chizu Nomiyama

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