Fitch Ratings late Monday downgraded Illinois’ general obligation rating one notch to A-minus and warned of possible further action by leaving the state’s credit on negative watch ahead of $1.3 billion of short- and long-term GO issuance in three deals over the coming weeks.
As I have said before, troubles within the Union are not limited to Europe. The market will always force the weak hands. Once it does, it will be damn the speculators. The speculator did it argument, a card Greece has played, ignores any responsibility for those that created the weak position.
Source: bondbuyer.com
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