Ratings

Chicago, upgraded Friday by Fitch, will follow City Council's expected passage of a new 2023 budget next month with a new money general obligation bond issue.

The upgrade reflects the city's improving pension funding practices, commitment to a sound reserve position and ability to institute structural budget measures, Fitch said.

The sale will fund improvements and repairs to public parks, waterfronts, and roads across the double-A-plus rated city.

Decisions by three organizations to drop Moody's ratings underscore an industry-wide trend as the sector struggles with rising costs and narrowing margins.

CommonSpirit Health priced more than $1 billion of debt on schedule Tuesday after disclosing a ransomware attack that has impacted some IT operations.

Moody's says Hawaii's tourism-based economy is disproportionately vulnerable to high inflation. It affirmed the state at Aa2 ahead of a $800 million GO deal.

Ohio's growing economic diversity helped draw a positive outlook from Moody's, a month after a Fitch Ratings upgrade.

The rating outlook boost to positive from stable follows recent progress on steadying reserve rates and paying down debt, S&P said.

The Sherwood school district in northwest Oregon had its issuer rating downgraded to A3 from A1 by Moody's Investors Service.

Ratings for Kansas have not changed since it was downgraded three times during the prior decade due to structural budget problems in the wake of tax cuts.