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Junk-rated Chicago to test bond market

Posted on May 28, 2015

Financial Times

This article discusses the City of Chicago’s planned return to the municipal bond market weeks after Moody’s Investors Service downgraded the City’s bond ratings to below investment grade. The Civic Federation said the combination of the downgrade and an Illinois Supreme Court ruling that appeared to limit the City’s options for dealing with its underfunded pensions leave the City with heavy uncertainty in the market.