News

S&P Revises Illinois Outlook Downward

S&P Revises Illinois Outlook Downward

Photo: Newsradio WTAX

Standard & Poor’s Ratings Services has changed its outlook on Illinois’ credit rating for the worse.

It revised its outlook from “developing” to “negative” on Illinois’ A-minus rating. S&P says the state’s $35.7 billion budget isn’t structurally balanced. It also cites an Illinois Supreme Court ruling that found the state can’t force retirees to pay for part of their health care.

S&P says if the pension overhaul is found unconstitutional it could have a “profound and negative effect on Illinois’ budgetary performance and liquidity.”

Recent Headlines

in Entertainment

Jada Pinkett Smith signs on to ‘Magic Mike’ sequel

Fresh
jada

The star says she has been cast in a role that was initially intended for a man.

in Music

Stars to pay tribute to Mavis Staples

Fresh
mavisstaples

An all-star lineup will salute Staples during the I'll Take You There - Celebrating 75 Years of Mavis Staples tribute concert on Nov. 19.

in Music

Pink Floyd dedicating new album to late keyboardist

wright

The rockers are dedicating their first new album in 20 years to late band member Richard Wright.