Another possible credit downgrade is looming over Illinois.  Lawmakers wrapped up in Springfield without passing a pension reform plan.  They failed to reach a deal even after Moody's and Standard and Poor's threatened to drop the states rating, again.  Illinois has already had 12 downgrades in recent years and has the worst credit rating in the nation.  

Another downgrade means the state will pay higher interest rates every time it borrows money. 


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