Illinois gets some breathing room from Moody’s – Bond Buyer

July 19, 2018

“The state's stable outlook is in line with expectations that, despite continued under-funding of pension liabilities, any credit deterioration in the next two years will not affect the state's finances, economy, or overall liabilities to an extent sufficient to warrant a lower rating,” Moody’s wrote. Translation: Bonds won't actually default in the next few year, and we don't really give a crap about anything beyond that. And this being an election year, we need to suck up a bit to keep those who pay us happy.

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