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« Quinn "On The Ropes" | Main | On The Ropes (3) »

12/08/2009

On The Ropes (2)

The Moody's investor's service on this date downgraded Illinois' general obligation bond rating (the governmental equivalent of a credit rating) from A-1 to A-2.  It means the state will have a more difficult time borrowing money and when it is able to make a deal, the interest rate is likely to be higher.  

  Governor Quinn hasn't said if this will impact his ability to make a short term loan for the end of this calendar year.  But this is more bad news for the embattled governor.

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