Chicago Public Schools: Ratings Downgrade Triggers Swap Termination

 

Recent ratings downgrades, including a three-notch downgrade by Fitch, has resulted in the triggering of swap termination events.  This could cost the District more than $260 million according to an article in The Bond Buyer.

Structural budget deficits, poorly funded pension plans and declining property values continue to plague the Chicago Public Schools.

The Bond Buyer article