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House Speaker Madigan: Two Credit Downgrades in Three Days Make it Clear Rauner Needs to Focus on State Budget

CHICAGO –(ENEWSPF)—October 22, 2015. House Speaker Michael J. Madigan issued the following statement after Moody's Investor Services downgraded Illinois' credit Thursday. The downgrade comes just three days after Fitch Ratings issued a downgrade of its own to the state's credit rating:

"Two credit downgrades in the same week are certainly nothing to claim victory over and nothing to ignore. These downgrades will have direct consequences on state taxpayers. The interest rate on future debt repayment will be higher, costing taxpayers more for the foreseeable future.

"Yet despite the Fitch Ratings downgrade . . .

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