Moody’s Investors Service

City Hall

Standard & Poor’s Lowers City’s Outlook To ‘Negative’

Standard & Poor’s cited Chicago’s $19.4 billion pension crisis, the city’s mountain of debt, and its historic “reluctance to adjust taxes” despite its sweeping home-rule powers and diverse economy.

09/17/2013

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.

07/19/2013

Gov. Pat Quinn presents his annual budget address to the Illinois General Assembly on March 6, 2013, in Springfield. (Credit: CBS)

Governor Calls Special Session On Pensions After Another Credit Downgrade

Gov. Pat Quinn has called for a special session of the Illinois General Assembly in two weeks, after the state’s credit rating was downgraded again over lawmakers’ failure to approve comprehensive pension reforms.

06/06/2013

Gov. Pat Quinn (Credit: CBS)

Quinn: ‘High Noon’ Coming For State’s Pension Mess

Gov. Pat Quinn says, when state lawmakers go back to Springfield for their final session before the new legislature takes over, addressing the pension mess has to be their top priority.

CBS Chicago–12/28/2012

Gov. Pat Quinn. (Credit: Craig Dellimore/WBBM Newsradio)

Moody’s Downgrades Illinois’ Credit Outlook To Negative

Moody’s Investor Services has downgraded the state’s credit outlook from stable to negative.

12/14/2012

Chicago Public Schools

Chicago Public Schools’ Bond Rating Downgraded Again

One of the nation’s bond rating agencies is out with another warning about the Chicago Public Schools system’s financial future.

CBS Chicago–09/28/2012

This is the first photo of Sen. Mark Kirk since he suffered a stroke in January. (Credit: Rehabilitation Institute Of Chicago)

In Video, Kirk Urges Action On Illinois Credit Rating

Sen. Mark Kirk, still recovering from a major stroke, released a video Tuesday that calls for “decisive bipartisan action” to prevent further reductions in Illinois’ credit ratings.

09/18/2012

Illinois State Capitol

Pension Chaos A ‘Negative’ For Illinois Credit Rating

Illinois edged closer to having its worst-in-the-nation credit rating lowered even further as a rating agency declared Thursday that failure to address massive pension problems is a “credit negative” for the state.

CBS Chicago–08/23/2012

(Photo: O'Hare Airport Guide) credit: Pilar Clark

Moody’s Lowers Bond Rating For O’Hare Expansion Borrowing

Mayor Rahm Emanuel’s administration on Friday took its second hit in one week from a Wall Street rating agency when Moody’s Investors Service dropped the bond rating on billions of dollars in O’Hare Airport bonds about to go to market.

07/21/2012

Chicago Public Schools

CPS Bond Rating Downgraded; Union Calls Reserve Fund Raid A ‘Stunt’

On the same day Moody’s Investors Service downgraded the Chicago Public Schools’ bond rating, the Chicago Teachers Union slammed the district’s plan to raid its reserve funds to balance the budget as a stunt designed to turn the public against teachers.

CBS Chicago–07/11/2012