bonds http://wuis.org en Business Group Refuses Comment on Bond Accusation http://wuis.org/post/business-group-refuses-comment-bond-accusation <p>An influential group of business executives is declining to comment on the possibility it helped to lower Illinois' credit rating. But public employees’ unions are calling for an investigation.</p><p>The Civic Committee of the Commercial Club of Chicago — and one of its leaders, former Illinois Attorney General Ty Fahner — were early leaders of the charge to do something about the state's underfunded pensions.</p><p>Fahner's been one of the most vocal advocates of doing not just something, but something major, to bring down the state's pension costs.</p> Fri, 26 Jul 2013 23:11:08 +0000 Amanda Vinicky 6361 at http://wuis.org Report Questions Illinois' Low Credit Rating http://wuis.org/post/report-questions-illinois-low-credit-rating <p class="p1"><span style="line-height: 1.5;">&nbsp;&nbsp;</span>Governor Pat Quinn says Illinois' failure to solve its pension problem means the state will have to pay $130 million more in interest on <a href="http://www.reuters.com/article/2013/06/26/us-usa-illinois-bonds-idUSBRE95P18P20130626">bonds it sold Wednesday</a>. But a new study is questioning Illinois' low debt rating.</p><p><span style="line-height: 1.5;">Illinois got an average interest rate of five percent on the $1.3 billion bond sale — and had to turn away many potential buyers.</span></p> Thu, 27 Jun 2013 12:00:00 +0000 Brian Mackey 4872 at http://wuis.org Report Questions Illinois' Low Credit Rating