FOX ILLINOIS: State Credit Downgrades for 8th Time in 28 Months

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Fox Illinois is reporting, “As the stack of unpaid bills continue to pile up, Illinois’ credit rating drops Thursday.

It’s the 8th time in 28 months bond rating agencies have downgraded the state’s credit rating.

The backlog of bills is now at $14.5 billion.

“At any moment our office is going to actually owe more money in court ordered payments than there is actually money allowed to meet those court orders,” Comptroller Susana Mendoza, D-Illinois, said. “So pretty soon, the Office of Comptroller will have to be in a position where we ask the courts, which court ordered, mandated payments will we not have to pay?”…”

READ MORE at Fox Illinois.

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