Borrowing

Statehouse
7:19 am
Mon March 10, 2014

Illinois Pays Penalty For Bad Fiscal Image

Professor Martin Luby
Credit igpa

When it comes to finances, the State of Illinois has a poor reputation.   New research shows how the state's negative perception is costing taxpayers. 

Illinois already has the worst credit rating among states.  And while that adds to the cost of borrowing money, Illinois winds up paying even more because investors view it as risky of default.

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Pensions
3:56 pm
Wed June 26, 2013

Quinn Says Lower Credit Rating Costly

Governor Pat Quinn

Gov. Pat Quinn says Illinois will pay an extra $130 million in interest on a bond issue this week due to lowered credit ratings because the state has not been able to solve its pension crisis.  
The state sold $1.3 billion in bonds to pay for transportation projects around the state, including redevelopment of a Chicago mass transit line, road repairs and new buildings at university campuses.  

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