Junk bonds

Analysts say the development is another sign of financial stress at the beleaguered utility.

It also orders a cut to a customer charge for fuel.

A declaration would be a first step toward dealing with the insolvency of the Water and Power Authority, with $252 million of bonds outstanding.

Authority warns of rolling blackouts in 2020.

Two rating agencies affirmed Bridgeview, Illinois, at junk after the Chicago Fire agreed to pay the village to escape its stadium lease.

Junk-rated Bridgeview will receive $65.5 million to allow the Chicago Fire to escape the lease and move to a center-city venue.

The Water and Power Authority's fuel supplier is demanding $20 million by Sunday.

The triple-C rated authority is petitioning to increase its rates as a supplier threatens to cut off fuel.

The retirement system has said it may run out of money in 2020 or 2021.

The anticipated surplus for fiscal years 2019 through 2013 has dropped to $11.6 billion from $15.1 billion, leaving less money for debt service and capital spending.