Fittest loser
Article updated: 8/29/2012 4:36 PM

S&P lowers Illinois credit rating over pensions

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An American Federation of State County and Municipal Employees union member wears a protest message on his shirt while rallying in May against the proposed pension legislation at the Capitol in Springfield. Continuing pension problems have earned Illinois another reduction in its credit rating.

Associated Press

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Continuing pension problems and government gridlock earned Illinois another reduction in its credit rating Wednesday. Standard & Poor's Ratings Services said it lowered Illinois' rating a notch because of "weak pension funding levels and lack of action on reform measures."
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