Tuesday, May 12, 2015

How LOOOWW Can You Go??? Moody's downgrades Chicago debt to 'junk' with negative outlook...


Moody's downgraded Chicago's credit rating down to junk level "Ba1" from "Baa2."
The announcement, which the ratings agency released Tuesday afternoon, cited a recent Illinois court ruling voiding state pension reforms. Moody's said it saw a negative outlook for the city's credit.
Following that May court decision, Moody's said it believes that "the city's options for curbing growth in its own unfunded pension liabilities have narrowed considerably."
http://www.cnbc.com/id/102650351

No comments: