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Illinois Dinged by Downgrades

June 11, 2013

Legislators in Illinois again failed to pass pension overhaul recently. Last week, both Fitch Ratings and Moody's Investors Service cut the state's rating on its general-obligation bonds down a notch because of the state's inaction. "The Illinois label is radioactive for some investors," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

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