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Moody's Downgrades Chicago's Debt Rating
ap ^
| Jul 18, 2013
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 ...
TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; US: Illinois
KEYWORDS: broke; chicago; expected; moody; unexpected; unions
1
posted on
07/19/2013 5:53:52 PM PDT
by
george76
To: george76
That’s racist.
In 5....4.....3.....2....
2
posted on
07/19/2013 5:55:05 PM PDT
by
Red in Blue PA
(When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
To: george76
Still in the “A” category.
3
posted on
07/19/2013 5:55:25 PM PDT
by
SkyDancer
(Live your life in such a way that the Westboro church will want to picket your funeral.)
To: george76
When it collapses I’ll be smelling the smoke all the way over here in south central Michigan.
4
posted on
07/19/2013 5:58:38 PM PDT
by
cripplecreek
(REMEMBER THE RIVER RAISIN!)
To: cripplecreek
5
posted on
07/19/2013 6:03:41 PM PDT
by
Hojczyk
To: SkyDancer
6
posted on
07/19/2013 6:11:18 PM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
Moody’s is going to get a call from the WH and shortly after that, Chicago’s Aa will be restored.
7
posted on
07/19/2013 6:12:47 PM PDT
by
randita
To: SkyDancer
how many more A’s left before they start getting B’s in the rating?
8
posted on
07/19/2013 6:13:51 PM PDT
by
Secret Agent Man
(Gone Galt; Not averse to Going Bronson.)
To: george76
Chicago: the other Detroit.
To: george76
Next stop, Tiny Dancer: Baaaaaa!
10
posted on
07/19/2013 6:16:48 PM PDT
by
tumblindice
(America's founding fathers: All armed conservatives.)
To: randita
Keep on kickin that can down the road.
11
posted on
07/19/2013 6:20:06 PM PDT
by
cripplecreek
(REMEMBER THE RIVER RAISIN!)
To: Standing Wolf
Chicago: the other Detroit.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....
12
posted on
07/19/2013 6:20:27 PM PDT
by
taildragger
(The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....)
To: george76
Hey, look at the plus side. Shortly, housing in particular parts of Chicago will be much more affordable.
13
posted on
07/19/2013 6:27:45 PM PDT
by
lurk
To: taildragger
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.
14
posted on
07/19/2013 6:33:18 PM PDT
by
cripplecreek
(REMEMBER THE RIVER RAISIN!)
To: george76
Glad my FICO score is higher than Detroit. Above 770
15
posted on
07/19/2013 6:33:39 PM PDT
by
SkyDancer
(Live your life in such a way that the Westboro church will want to picket your funeral.)
To: george76
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.
To: george76
Probably should realistically be a G3 (Greek 3)...3 levels below Greek Yogurt.
17
posted on
07/19/2013 6:50:30 PM PDT
by
RetiredTexasVet
(The short list would be the list of all administration officials that are NOT pathological liars!)
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