Illinois's credit rating is taking another hit this week. Moody's Investors Service has downgraded the state's nearly 27-billion dollars of general obligation bonds to B-A-A-1 from A-3. The agency says the downgrade reflects Illinois' weakening financial position in 2015 and the ongoing budget crisis.
Fitch Ratings downgraded the state's credit rating earlier this week, also citing the budget impasse.
