CHICAGO – Two credit agencies have downgraded Chicago’s general obligations bond rating to BBB+. Fitch Ratings cited consecutive operating deficits since 2023 and high dependence on non-structural solutions and assumptions. KBRA cited deteriorating fund balance, narrowing liquidity, and exceptionally high and rising fixed cost burden, including the state legislature’s passage of Tier II pension adjustments last year.
© Copyright Site Designed and Hosted by RiverBender.com