Ratings

Chicago’s motor fuel bonds, the city’s park district, and Cook County suffered rating or outlook cuts this week.

S&P revised its outlook on Detroit's speculative grade rating to negative from stable Thursday as COVID-19 clouds the city's fiscal prospects.

S&P Global Ratings changed its outlook on Chicago's BBB-plus rating to negative citing financial strains caused by the pandemic.

Fitch Ratings lowered its outlook on Hawaii's AA-plus rating to negative from stable, following a similar action by Moody's earlier this month.

S&P Global Ratings analysts say bookings that are two to three years out are already being canceled.

The March losses underscore the fiscal strains for hospitals but many facilities are expected soon to resume elective surgeries and diagnostic procedures.

Financial strains from COVID-19 were the primary factor in downgrading the state to A-minus from A. The outlook was revised to negative from stable.

The Illinois penalty that raises borrowing costs for all issuers in the state may widen as local agencies and governments face likely cuts in state support.

The downgrade brings Fitch into alignment with Moody's and S&P, and the negative outlook leaves Illinois without any rating room above speculative grade.

With coronavirus decimating the state's dominant industry of tourism, Moody's dropped Hawaii's rating outlook to negative.