As Chicago Budget Hearings Start, Ratings Agency Sounds Alarm – WTTW (Chicago)

“If the city’s final budget and management’s plans to address potential pressures beyond 2021 don’t make sufficient progress to return to structural balance, the rating will be pressured further,” according the report from Standard & Poor’s. “The city’s ability to absorb the additional pension expenditures and stay on a course to structural balance will be critical to maintaining the rating.”