CHICAGO — Fitch Ratings put Illinois on notice Friday that its single-A general obligation bond rating faces a downgrade absent any action to solve its pension funding crisis.

Fitch’s move to put the state’s GO credit on negative watch was the first rating agency reaction to the General Assembly’s failure to overhaul the pension system during a lame-duck session.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.