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With No Budget Deal, Ill. Credit Drops To Edge Of Junk Status

By Hannah Meisel (June 1, 2017, 5:57 PM EDT) -- The day after Illinois lawmakers left town, blowing past their spring legislative deadline to pass a budget, credit rating agencies Standard & Poor's and Moody's Investors Service downgraded the state's bond rating to one notch above junk status, with S&P going even further to plunge the state's appropriations debt into junk territory....

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