City Hall

Civic Federation: City’s Credit Rating Hit ‘Extraordinary’

The head of a budget watchdog group said a major of the Chicago’s credit rating on Thursday was no surprise, but is very troubling for residents.


Illinois State Capitol

Cullerton Hopes Latest Hit To State’s Credit Rating Prompts Pension Reform Vote

Illinois Senate President John Cullerton (D-Chicago) said Monday that the state is only hurting itself by failing to take action to resolve its ballooning pension debt and declining credit rating.


Illinois State Seal

State Dinged By Bond-Rating Agency Over Pension Debt

Standard & Poor’s said Friday that the rating on the state’s general obligation bonds was downgraded to A- from A.


City Hall

Treasurer Neely: Credit Downgrade Won’t Affect City Finances

Chicago Treasurer Stephanie Neely is trying to reassure residents that the nation’s downgraded credit will not harm city finances.

WBBM Newsradio–08/08/2011

Grim faces tell the story Thursday as the stock market plummets. (AP)

Anxiety Prevails On First Day Of Trading Since Downgrade

All signs point to another rough day in the financial markets Monday morning, on the first day of trading since the historic U.S. credit downgrade.

CBS Chicago–08/08/2011