Chicago’s Recent Rating Upgrades – Civic Federation

According to the City, every credit rating upgrade represents $100 million in interest cost savings on each $1 billion in bonds issued. Chicago had $6.3 billion in long-term tax supported debt outstanding in FY2021, according to the City’s most recent audited financial report, plus another $16.3 billion in outstanding revenue bonds for water/sewer and O’Hare and Midway airports.