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Fitch Calls Pension Reform "Positive" Development
A major credit rating agency says it sees the state's passage of pension legislation as a positive development.
Fitch says it's necessary to see if reform measures enhance pension system funding and control pension payments' effect on the state budget.
Fitch also believes a legal challenge is likely.
Fitch rates Illinois an A-, with a negative rating outlook. That's the lowest rating of any U.S. state.