Illinois has the worst credit rating in the nation and that's largely due to its approximately 100 billion dollar long-term pension debt.
In an effort to reduce the state's pension obligations, lawmakers in 2013 passed a law that reduces workers' benefits. Illinois' Supreme Court will decide whether the law can stand, a ruling could come at any time.
IPR's Amanda Vinicky spoke with Ted Hampton, who analyzes Illinois' credit worthiness as a Vice President at Moody's Investor Service, about how the legal battle over pensions could further affect the state's rating.
The justices heard arguments earlier this month from the government, and from attorneys representing current and retired state employees.
A credit rating is a measure of a state's credit worthiness. Illinois' lowest-in-the-nation rating means it can cost more to borrow money, a cost that's passed onto taxpayers.
