One of the nation’s bond rating agencies is out with another warning about the Chicago Public Schools system’s financial future.
Illinois, which already has one of the worst-in-the-nation credit ratings, was lowered even further on Wednesday by the Standard & Poor’s rating agency, citing the state’s failure to address its massive pension problems.
Moody’s lowered Illinois’ rating Friday by another notch, to A2. No other state has such a low rating from Moody’s.
Ratings agency Moody’s believes if the U.S. eliminates the debt ceiling, it would reduce the uncertainty amongst bond holders.
A published report indicates that the O’Hare expansion project might be hurting the city’s financial standing.