Quinn delays $500 million borrowing in wake of state's bad credit rating
(MCT) — Gov. Pat Quinn's administration delayed Wednesday's planned sale of $500 million in construction bonds, saying a recent credit downgrade because of inaction on government worker pension reform left the market "unsettled."
The decision was made after officials with the governor's budget office spoke with potential bidders who indicated they would seek interest rates higher than what the state wanted to pay.
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