The state sold $375 million worth of them yesterday, one week after Moody’s, Fitch, and Standard and Poor’s sliced and diced the credit ratings of Illinois’s other bond issues.
A lower credit rating equals higher interest rate on the state’s bonds, including the new Build Illinois Bonds. They’re “backed by a first-priority pledge of state sales tax revenue.” Give them to your loved ones!
Bloomberg story here: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aLrnNjvaePg0