Chicago wins Fitch upgrade on better economy, moderating debt – Crain’s*

Chicago earned an upgrade from Fitch Ratings Thursday thanks to the city’s improving economy and declining long-term debt burden.
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Old Spartan
3 years ago

Moderating Debt? What!! I guess Fitch can’t do basic math on long term liabilities like unfunded pensions, health care for retiree obligations, etc. Oh, but if you keep in mind that the City of Chicago pays for these compromised opinions, it makes more sense. Is Fitch really gong to tell the ugly truth about the guy who sends them the pay check? Unlikely would you say?

Goodgulf Greyteeth
3 years ago
Reply to  Mark Glennon

“”The upgrade was “driven by a decline in the city’s long-term liability burden stemming from steady growth in the economic resource base and improved debt management practices,” Fitch wrote in the report.”

Followed by:

“His $16.6 billion spending plan for 2024, unveiled last week, includes $187 million more in revenue than projected as recently as last month.”

Unbelievable….

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