It is no coincidence that S&P lowered Illinois bond rating AFTER Gov. Quinn vetoed the gaming expansion bill which would have brought hundreds of millions of dollars into the state’s coffers. The press can spin this as a pension issue but everyone knows its a funding issue and now the Governor gets some well earned credit.
S&P lowers Illinois’ credit rating over pension crisis – Chicago Sun-Times
Standard & Poor’s Ratings Services announced Wednesday that it is lowering Illinois’ rating a notch to “A’ from “A+’