The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status - Hallo friendsINFO TODAY, In the article you read this time with the title The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article economy, Article health, Article hobby, Article News, Article politics, Article sports, We write this you can understand. Alright, good read.

Title : The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status
link : The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status

The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status

Bloomberg: S&P, Moody's Downgrade Illinois to Near Junk, Lowest Ever for a U.S. State

* No end to budget impasse sends state to brink of junk rating
* State appropriations debt cut to below investment grade

Illinois had its bond rating downgraded to one step above junk by Moody’s Investors Service and S&P Global Ratings, the lowest ranking on record for a U.S. state, as the long-running political stalemate over the budget shows no signs of ending.

S&P warned that Illinois will likely lose its investment-grade status, an unprecedented step for a state, around July 1 if leaders haven’t agreed on a budget that chips away at the government’s chronic deficits. Moody’s followed S&P’s downgrade Thursday, citing Illinois’s underfunded pensions and the record backlog of bills that are equivalent to about 40 percent of its operating budget.

“Legislative gridlock has sidetracked efforts not only to address pension needs but also to achieve fiscal balance,” Ted Hampton, Moody’s analyst, said in a statement. “During the past year of fruitless negotiations and partisan wrangling, fundamental credit challenges have intensified enough to warrant a downgrade, regardless of whether a fiscal compromise is reached.”

Read more ....

Update #1: "Now The Pain Begins": S&P, Moodys Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State (Zero Hedge)

WNU Editor: The debt crisis continues. First Puerto Rico .... and now a state like Illinois .... are the dominoes being set up for a big fall?

Update #2: Because the U.S. dollar is a world reserve currency .... the U.S. has the unique ability to print money at a level to finance its debts and spending that no country in the world can match. It is one of the reasons why the U.S. is a super power. This is why developments like this one where the supremacy of the US dollar is being chipped away should make all of us concerned .... because in the end it will impact all of our wallets. .... China’s Next Step to Destroy the Dollar (Byron King, Daily Reckoning).

Thus Article The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status

That's an article The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status This time, hopefully can give benefits to all of you. well, see you in posting other articles.

You are now reading the article The U.S. State Of Illinois Has Had Its Credit Downgraded To Near Junk Status with the link address https://infotodays1.blogspot.com/2017/06/the-us-state-of-illinois-has-had-its.html

Tweet

Subscribe to receive free email updates: