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Moody's revises Illinois credit outlook to negative on pensions
December 13, 2012 / 11:01 PM / 5 years ago

Moody's revises Illinois credit outlook to negative on pensions

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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