Board of Education of the City of Chicago

Casino tax legislation is “credit positive” for the city, Moody's said; Fitch downgraded ratings for Chicago water, sewer and school district revenue bonds.

Moody's sees the state's budget woes as posing the most severe strain on the junk-rated district's fiscal prospects

Weak investment returns, assumption changes, and low contributions pushed up the cumulative unfunded liabilities of 11 local government pension funds.

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.

Miroslava Mejia Krug is a veteran of top fiscal posts at two Chicago-area private higher education institutions.

Chicago Public Schools long climb back to investment grade continues

The labor deal with teachers to end an 11-school-day strike puts pressure on Chicago Public Schools in the out years, say FItch and S&P.

The junk-rated school district revised its fiscal 2020 budget to reflect the contract that ended a teachers' strike, but long-term questions remain.

Though the market may view Chicago's budget as heading in the right direction, relying on the state is a gamble that's a concern for aldermen, too.

Mayor Lori Lightfoot needs to achieve her 2022 target of structurally balancing the city’s books to preserve Chicago's BBB-plus rating, S&P said.