Moody’s: Illinois avoids ‘junk’ credit, but risks remain

http://www.wpsdlocal6.com/story/35934262/moodys-illinois-avoids-junk-credit-but-risks-remain

CHICAGO, IL – (Associated Press – WPSD-TV.  Please click on the link for the full story.  Here is an excerpt below.)

A major credit rating agency says Illinois’ rating won’t be lowered to “junk” but warns the state still faces serious financial challenges and long-term risks.

Moody’s Investors Service on Thursday affirmed Illinois’ current rating with a negative outlook, saying a downgrade remains possible in the next two years.

Moody’s put Illinois under review for a downgrade earlier this month, after the state entered its third fiscal year without a budget