Illinois could be 1st state with ‘junk’ credit due to budget 

CHICAGO (AP) — Illinois is on track to become the first U.S. state to have its credit rating downgraded to “junk” status, which would deepen its multibillion-dollar deficit and cost taxpayers more for years to come. At least two major ratings agencies have warned they will lower Illinois’ creditworthiness to below investment grade if feuding lawmakers fail to agree on a state budget for a third straight year. That would increase the amount the state will have to pay to borrow money.