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Fitch issues downgrade after lawmakers' pension punt

Jun 04, 2013
As expected, Illinois' credit rating, already the worst of any state, declined further on Monday. Fitch Ratings downgraded the state's credit rating after the legislature ended its spring session Friday without addressing the state's nearly $100 billion pension debt and the ever-rising costs of the current pension structure.

“Fitch believes that the burden of large unfunded pension…

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