Illinois, New Jersey and their bond investors among those most vulnerable to recession: S&P

August 9, 2016 9:07 PM

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Illinois, Pennsylvania, New Jersey, and Connecticut have the least capacity to withstand a moderate economic recession that would challenge their heavy, tax-supported debt loads, Standard & Poor's found in a stress test of 10 states' 2016-2017 budgets.

Washington, Florida and New York are best-positioned among the 10 states included in the report issued Tuesday and titled "Fiscal Resilience Among U.S. States Varies as Economic Expansion Surpasses Seven-Year Mark." California, Massachusetts, and Wisconsin made up the middle rankings. S&P rates Illi...

Also read: Moody’s Expects U.S. to Sue Over Its Pre-Crisis Bond Ratings

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