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Standard & Poor’s

City Hall

Standard & Poor’s Lowers City’s Outlook To ‘Negative’

Standard & Poor’s cited Chicago’s $19.4 billion pension crisis, the city’s mountain of debt, and its historic “reluctance to adjust taxes” despite its sweeping home-rule powers and diverse economy.

09/17/2013

A sign for Standard & Poor's rating agency stands in front of the company headquarters in New York. (Photo credit: EMMANUEL DUNAND/AFP/GettyImages)

Madigan Joins Suit Over S&P Mortgage Bond Ratings

Illinois Attorney General Lisa Madigan has joined the federal government and 13 other attorneys general in suing for changes in the way Standard & Poor’s rates mortgage bonds.

WBBM Newsradio–02/05/2013

This is the first photo of Sen. Mark Kirk since he suffered a stroke in January. (Credit: Rehabilitation Institute Of Chicago)

In Video, Kirk Urges Action On Illinois Credit Rating

Sen. Mark Kirk, still recovering from a major stroke, released a video Tuesday that calls for “decisive bipartisan action” to prevent further reductions in Illinois’ credit ratings.

09/18/2012

U.S.currency. (credit: BAY ISMOYO/AFP/Getty Images)

Illinois’ Poor Credit Rating Lowered Again

Illinois, which already has one of the worst-in-the-nation credit ratings, was lowered even further on Wednesday by the Standard & Poor’s rating agency, citing the state’s failure to address its massive pension problems.

08/29/2012

Illinois State Capitol

Pension Chaos A ‘Negative’ For Illinois Credit Rating

Illinois edged closer to having its worst-in-the-nation credit rating lowered even further as a rating agency declared Thursday that failure to address massive pension problems is a “credit negative” for the state.

CBS Chicago–08/23/2012

Illinois Attorney General Lisa Madigan (Photo by Joshua Lott/Getty Images)

Madigan Sues S&P For Role In Housing Market Meltdown

Illinois Attorney General Lisa Madigan has filed a lawsuit against Standard & Poor’s claiming the credit ratings agency fraudulently gave high ratings to risky mortgage-backed investments in the years prior to the 2008 housing market crash.

01/25/2012