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Standard & Poor’s on Chicago’s BBB bond rating, negative outlook

Fran SpielmanThe Chicago Sun-Times

Aug 09, 2016

This article originally appeared in the Chicago Sun-Times.

Standard & Poor’s on Tuesday affirmed Chicago’s BBB bond rating and negative outlook — even after Mayor Rahm Emanuel proposed a 30 percent utility tax to save the largest of Chicago’s four city employee pension funds.

“While we believe the city is moving in the right direction toward stabilizing its budget and its pension plans and that the announcement of the new tax is a positive development, in our view there is uncertainty around the new tax until fully approved,” the report states.

“The outlook could be changed to stable if the city’s new…

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