The upgrade results from Fitch's revised local government rating criteria, which assesses Chicago's financial resilience at aaa due to its "high midrange" budget control and Fitch's expectation the city will keep general fund available reserves at 10% of spending or higher.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
And don’t forget who pays Fitch. What a surprise– the guy looking for an upgrade pays the bill!!
Best advise, let the buyer beware.
So Fitch has zero credibility. Understood.