Illinois delays sale of $500 million in bonds

January 30, 2013 5:52:04 PM PST
The State of Illinois delayed the sale of $500 million in construction bonds Wednesday.

Standard and Poor's recently lowered the state's credit rating one notch from "A" to "A-".

The market is unsettled because of recent actions and comments by the bond rating agencies, according to the state.

It will try a new bond sale after the markets have had time to digest the news.