Sunday, January 27, 2013

We're No. 1 — Illinois Has Nation's Worst Credit Rating - St. Charles, IL Patch

Chicago leads in murders; Illinois leads in poor credit ratings. 

Illinois now has the lowest credit rating of all 50 states. Standard & Poor’s rating services downgraded Illinois’ credit rating last week to A-, with a negative outlook. 

State Treasurer Dan Rutherford, who blamed the negative rating on inaction on the public pension system by Gov. Pat Quinn and the General Assembly, said Illinois is headed for "fiscal disaster."

He said the lower rating will force the state to fork over more money on interest payments. This will affect state universities, road construction and other public institutions because more will go to interest than principal as these projects are paid for.

We're No. 1 — Illinois Has Nation's Worst Credit Rating - St. Charles, IL Patch

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