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Reuters: Moody's drops Chicago's credit rating to 'junk'

by Joe Mobley
1 replies
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The downgrade of Chicago's $8.1 billion of general obligation bonds moves the city's rating down two notches, to Ba1 from Baa2 with a negative outlook. Combined with rating cuts for city revenue debt, Moody's said, its actions could trigger up to $2.2 billion in accelerated payments on some of that debt.
Moody's drops Chicago's credit rating to 'junk' | Reuters

You may also find my earlier thread interesting.

http://www.warriorforum.com/off-topi...t-detroit.html


Joe Mobley
  • Profile picture of the author whateverpedia
    I wouldn't place much <ahem> credit in the ratings agencies after they gave the subprime mortgage securities AAA ratings,

    That of course doesn't mean that Chicago is a worthwhile place to invest though.
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    Why do garden gnomes smell so bad?
    So that blind people can hate them as well.
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