Moody’s Cuts Chicago to Baa2

On Friday, Moody’s Investors Service downgraded the city of Chicago’s credit rating to Baa2 from Baa1, maintaining a negative outlook. The rating is for the city’s $8.3 billion of outstanding general obligation debt, $542 million of outstanding sales tax revenue debt, and $268 million of outstanding or authorized motor fuel tax revenue debt. In addition, [...]