CHICAGO – On the heels of a negative outlook revision from Fitch Ratings, Cook County, Ill. intends not to ask the agency to rate its next debt issue, according to documents authorizing an upcoming general obligation borrowing.

The move by Cook to drop the rating agency follows Fitch’s July decision to revise the county’s outlook to negative from stable on $3 billion of outstanding general obligation debt due to fiscal pressures. The outlook revision came ahead of the county’s issue of $150 million of tax anticipation notes.

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