Illinois Pays More Than Mexico as Cash-Strapped States Sell Bonds Overseas

Illinois Pays More Than Mexico as Cash-Strapped States Sell Bonds Overseas - Bloomberg
"The state sold one-fifth of the federally subsidized securities abroad the next month, tapping investors who are the fastest-growing source of borrowed cash for U.S. municipalities.

Illinois, with the lowest credit rating of any state from Moody’s Investors Service, dangled yields higher than Mexico, which defaulted on debt in 1982, and Portugal, which costs more to insure against missed payments."