Chicago schools’ debt rating drops again, could trigger $228M in penalties
A second major bond rating agency has downgraded Chicago Public Schools' debt, a move that could cost the district as much as $228 million and is likely to fuel the...
Home > Reviews
All Stories
Chicago is scrambling to renegotiate swap deals, avoid painful payments
Chicago's dropping debt rating has officials scrambling to renegotiate hundreds of millions of dollars worth of contracts that analysts say expose Chicago to more derivatives risk than most major cities....
CPS credit rating takes hit
Chicago's bad week of financial news continued Friday, as a major rating agency downgraded Chicago Public Schools' debt to just one level above junk status. Moody's Investors Service downgraded $6.3...
Moody’s downgrades Chicago Park District’s debt rating
The Chicago Park District's debt rating fell one notch Thursday, part of a ripple effect from the city's financial woes. Moody's Investors Service downgraded the district to Baa1, three notches...
Chicago avoids $20 million payment after renegotiating swap contract
The city has managed to reduce a threatened $58 million in payments triggered by a downgrade of Chicago's debt rating Friday, and the city may be able to avoid the...
Bernie Mac Foundation overhauls leadership in response to ethics concerns
The Bernie Mac Foundation has overhauled its leadership, banned salaries for board members and laid out a formal conflict-of-interest policy, according to documents filed over the past year as part...
Moody’s downgrades Chicago’s debt rating
As Chicago heads into a mayoral runoff, a downgrade of the city's debt rating is bringing its precarious financial condition into sharp focus. Citing an overwhelming pension burden, Moody's Investors...
CPS braces for ‘consequences’ of snubbing state-mandated test
With days remaining before Illinois schools can administer a new state-mandated test, Chicago Public Schools remains in a tight spot over the potential consequences of its decision to spurn the...
New Chicago Public Schools borrowing will invite scrutiny from ratings agencies
The Chicago Board of Education's decision Wednesday to borrow up to $700 million is likely to bring new scrutiny from ratings agencies as the district struggles to bridge a $1.1...
Chicago Public Schools is borrowing once again
The city's cash-strapped school system is seeking to borrow up to $700 million as finance officials work to manage the district's many debts. Chicago Board of Education members on Wednesday...