For the past two years, the summer season has not been a good time for Illinois' general obligation bond ratings.

The summer of 1991 saw Standard & Poor's Corp. drop the state to AA from AA-plus, while Moody's Investors Service lowered the rating to Aa1 from Aaa. Further downgrades followed in the summer of 1992 as the Standard & Poor's rating fell another notch to AA-minus and Moody's' rating dropped to Aa.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.