Relax, Bondholders, Illinois Won’t Default
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(Corrects tax status of Illinois bonds in 10th paragraph.)
June 20 (Bloomberg) -- Illinois is arguably in the worstfinancial condition of any U.S. state. But is it on the doorstepof bankruptcy? If you were judging by the fruitless endeavors ofthe state’s legislature, you just might be fooled into thinkingthat default was a real possibility.