CHICAGO – Cook County, Illinois must move quickly to tackle a $200 million hole left by a repeal of its sweetened beverage or risk damage to its credit profile, S&P Global Ratings warned.

“Depending on the resulting severity of the repeal's effects on the county's budget and, ultimately, its financial position, it could impact credit quality,” S&P analysts Lisa Schroeer and Helen Samuelson wrote in a commentary published after the county board overwhelmingly voted Wednesday to repeal the penny-per-ounce sweetened beverage.

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