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Standard & Poor's Lowers Illinois Credit Rating Lowered Over Pensions

August 30, 2012

Standard and Poor's ratings service lowered the state of Illinois' rating a notch on Wednesday, citing continuing pension problems. "The aggravating thing is we saw it coming. Don't have the political will. Cost taxpayers," Brian Battle, Performance Trust, said. The move was expected after lawmakers failed to come up with a pension reform plan at a special session in Springfield earlier this month.

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