A second major rating agency is downgrading Illinois' credit worthiness.
Moody's Investors Service lowered the state's $27 billion in outstanding bonded indebtedness Thursday to A3 from A2. The new rating's three levels above junk status.
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Illinois has the worst credit rating among states.
Fitch Ratings downgraded Illinois' credit Monday.
Both firms blame lawmakers' lack of action on a $97 billion pension shortfall.
The Legislature adjourned its spring session without adopting a plan to make up the difference over 30 years, but the governor's calling lawmakers back to Springfield for a special session.
A downgrade costs the state millions more to borrow money when it sells future bonds.
Standard & Poor's reported Thursday it's keeping its A- rating for Illinois after predicting earlier there'd be no pension solution by May.