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Moody's Downgrades Illinois Credit Outlook, Cites Pension Funding Pressures
Pensions & Investments Dec. 16, 2012 "While the report reaffirmed the state's A2 credit rating on general obligation debt, it lowered the credit outlook from stable, putting at the top of its concerns the state's unfunded pension obligations. 'If the Legislature in coming weeks or months enacts significant pension reforms, they are almost certain to be challenged, given the state's constitutional protection of retiree benefits,' the report said." |
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