Moody's Investor Service this morning downgraded Illinois' bond rating due to the General Assembly and the Governor not coming up with a state budget for the new fiscal year starting July First.

Governor Bruce Rauner's Press Secretary Catherine Kelly released a state this morning saying that the Administration warned the super majority in the Illinois Legislature that there would be consequences, and that the ratings downgrade underscores the need for structural changes to repair the years of unbalanced budgets and deficit spending by Democrats.  Kelly's statement also blamed Illinois House Speaker Michael Madigan for the downgrade.