Ratings

Gov. J.B. Pritzker says preservation of the investment-grade status is "very important;" Illinois bonds traded wider after the income tax referendum failed.

Moody’s on Thursday joined Fitch and S&P Global Ratings in moving the city’s rating outlook to negative. It has rated Chicago at speculative grade since 2015.

By putting a negative outlook on its BBB-minus rating, Fitch leaves Chicago little room to avoid being saddled with a second speculative-grade rating.

The city needs to continue meeting pension commitments and moving to structural budget balance despite the coronavirus pandemic, the rating agency said.

Disney in late September said it would lay off 28,000 employees at California's Disneyland and Florida's Walt Disney World resorts.

A Washington utility's ratings will survive Boeing's decision to move 787 production to South Carolina, but local economy may not be so lucky.

Georgia's MEAG Power, Jacksonville, Florida, and its utility, JEA, received two-notch rating boosts from Moody’s after settling their federal lawsuit.

Moody's followed S&P in issuing a shot across the bow on coronavirus-driven threats to Illinois' ratings that are one cut away from junk.

S&P said the downgrade is the result of what is likely a one-off analytic error in 2005; the bonds in question are held by Fannie Mae and have never traded.

The city's use of reserves to manage past deficits drove a two-notch downgrade from S&P Global Ratings, to A from AA-minus.