SPRINGFIELD, Ill. | A leading credit rating agency has called legislation to overhaul Chicago's pension funds a "positive development," but says it won't solve all the city's problems — especially if assumptions for annual investment returns fall short.
SPRINGFIELD | Illinois wears a "scarlet letter" when it borrows money, denoting a woeful fiscal reputation that cost at least $80 million in additional interest charges over a five-year period, a study released Monday found.
INDIANAPOLIS | The three largest bond agencies continue to believe loaning money to Indiana is one of the safest investments in the world.
"I am shocked, shocked to find … gambling …" This famous line of the cynical Captain Renault to night club manager Rick in the film classic "Casablanca" comes to mind in reflecting on the practices of American credit rating agencies.
Take note, Lake County, of the government financial fiasco boiling over in neighboring Illinois. If Lake County government officials don't wake up and pursue more sound economic policies and strategies, Lake County could be a microcosm of Illinois' bigger financial problems.
SPRINGFIELD, Ill. | Sen. Mark Kirk has released a video calling for "decisive bipartisan action" to prevent further reductions in Illinois' credit ratings.
An American Federation of State County and Municipal Employees union member wears a protest message on his shirt May 23 while rallying against the proposed pension legislation at the Illinois state Capitol in Springfield.
SPRINGFIELD, Ill. | Stubborn pension problems and government gridlock earned Illinois another reduction in its credit rating Wednesday, potentially costing taxpayers millions of dollars.
SPRINGFIELD, Ill. | Illinois, unable to solve its long-running financial problems, was given the lowest credit rating of any state in the country by Moody's Investors Service on Friday, a move that will increase costs to taxpayers.
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