Moody's revises Illinois credit outlook to negative on pensions

CHICAGO Thu Dec 13, 2012 5:58pm EST

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CHICAGO Dec 13 (Reuters) - Moody's Investors Service on Thursday revised Illinois' credit outlook to negative from stable, citing the likelihood of persistent and worsening public-pension funding pressures.

The rating agency, which affirmed Illinois' A2 rating, also said the state's problems could be exacerbated by the upcoming partial expiration of income tax rate increases.

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