Tag: Moody's

This fool was thinking of buying Illinois bonds

Asked B.V. from Port Richey, Fla.: I’m thinking of buying $50,000 of high-yield Illinois municipals where I can get 8% to 10%. How could Illinois’ deficit become so large?… What do you think? The question was submitted to financial advisor Malcolm Berko at uexpress.com. Berko’s answer, “Illinois Municipals Are Loaded With Risk” was informative and insightful.... Read more »

Moody's: Madigan's tax hike possibly not enough to avoid Illinois junk bond rating

Moody’s Investor Service warned on Wednesday that big income tax increase  engineered by House Speaker Mike Madigan might not be enough to prevent the rating service to send Illinois bond’s spiraling into junk status. In a statement, Moody’s said: The decision to place the state’s ratings under review for downgrade incorporates our expectation that the... Read more »

Illinois' credit faces a "sort of" do or die moment

Moody’s Investor Service is weighing in again on Illinois financial crisis, threatening another downgrading of its credit rating if it doesn’t do something to resolve its budget stalemate in a couple of months, Reuter’s reports. The credit rating agency said the state is at a “critical juncture,” and failure to reach a budget consensus by... Read more »
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