Skip to comments.Moody's Downgrades Chicago's Debt Rating
Posted on 07/19/2013 5:53:52 PM PDT by george76
Illinois' $97 billion pension problem isn't doing any favors for Chicago.
Moody's Investors Service late Wednesday downgraded the city's debt rating from Aa3 to A3 because of the city's "very large and growing" pension liability.
(Excerpt) Read more at nbcchicago.com ...
Still in the “A” category.
When it collapses I’ll be smelling the smoke all the way over here in south central Michigan.
A little late
Moody’s is going to get a call from the WH and shortly after that, Chicago’s Aa will be restored.
how many more A’s left before they start getting B’s in the rating?
Chicago: the other Detroit.
Next stop, Tiny Dancer: Baaaaaa!
Keep on kickin that can down the road.
Funny, you can hear on the talking head shows here in Metro Detroit, about their Chicago Envy and how they want to be like them, careful what you wish for :-o....
Hey, look at the plus side. Shortly, housing in particular parts of Chicago will be much more affordable.
I have the opposite opinion of Chicago. I actually prefer Detroit. About the only thing of any interest to me in Chicago is the museum of science and industry.
Glad my FICO score is higher than Detroit. Above 770
Considering that most municipal debt is unsecured, by now it ought to be Z, because investors are not going to get their money back. Who in the world would buy a 30 year unsecured Chicago bond? Yet I go to my investment account website and look at Chicago bonds expiring in 2026, and they are at 5%. Low Information Investors.
Probably should realistically be a G3 (Greek 3)...3 levels below Greek Yogurt.
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