Article updated: 12/14/2012 5:03 PM

Moody’s revises state’s credit outlook to negative

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State Treasurer Dan Rutherford says lawmakers need to address the state's pension problems and curtail spending. State lawmakers are due in Springfield in early January.

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Moody's Investors Services has revised Illinois' credit outlook from stable to negative, citing the state's pension funding shortfall and money management practices. Illinois Treasurer Dan Rutherford said Friday the move will affect taxpayers. "We're just basically making it harder and harder for tomorrow's generation," Rutherford said.

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