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Illinois Quick Hits: Chicago suffers credit rating downgrades | Illinois

(The Center Square) – Two credit agencies have downgraded Chicago’s general obligations bond rating to BBB+. Fitch Ratings cited consecutive operating deficits since 2023 and high dependence on non-structural solutions and assumptions. KBRA cited deteriorating fund balance, narrowing liquidity, and exceptionally high and rising fixed cost burden, including the state legislature’s passage of Tier II […]