Illinois credit rating lowered by Moody's, again

http://www.politico.com/news/stories/0112/71180.html

The state is given the lowest rating of any by Moody's Investors Service on Friday.

Illinois, unable to solve its long-running financial problems, was given the lowest credit rating of any state in the country by Moody's Investors Service on Friday, a move that will increase costs to taxpayers.

Lower credit ratings generally mean the state winds up paying more interest when it borrows money by selling bonds.

Standard & Poor's flip-flops the states in its ratings. California is worst, with Illinois a notch above.