S&P cuts LaSalle, Ill.'s GO rating 2 notches to 'A-'

Thu May 2, 2013 3:55pm EDT

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May 2 (Reuters) - Standard & Poor's Ratings Services said on Thursday it lowered LaSalle, Ill.'s general obligation bond rating to A-minus from A-plus.

S&P said the downgrade was due in part to a drop in the city's general fund balance to a negative level, and an adequate, but below-average income level.

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