Chicago Public Schools Junk Rating on CreditWatch for Downgrade

 

Stanard & Poor’s place the Chicago Board of Education’s debt on CreditWatch with negative implications.  Standard & Poor’s stated that the lack of progress in meeting the fiscal 2016 budget assumptions was the reason for the CreditWatch status.  The assumed $480 million in pension help from the State of Illinois has not materialized due to the ongoing (five-month) budget feud within State Govenment.

 

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