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Sustainable Public Finance Archive

Pension debt strains Chicago’s finances, threatens retiree security

Moody’s Investors Service last week downgraded the City of Chicago’s credit rating yet again, barely eight months after a triple notch hit last July. The latest downgrade of Chicago’s general obligation bonds to Baa1 means Chicago now has the worst credit rating of any major U.S. city, with the exception of Detroit, which filed for … Read More