News in Brief

Chicago District's Debt Downgraded to Junk Status

Article Tools
  • PrintPrinter-Friendly
  • EmailEmail Article
  • ReprintReprints
  • CommentsComments

The Chicago school district's debt was downgraded to junk status last week by Moody's Investors Services, one day after the ratings agency did the same for the city's bond rating.

The downgrade means the district may face higher borrowing costs.

Moody's action is the latest fallout for the city and the district after the Illinois Supreme Court struck down changes in state law that had sought to reduce benefits under the pension system for public employees.

Vol. 34, Issue 31, Page 4

Published in Print: May 20, 2015, as Chicago District's Debt Downgraded to Junk Status
Related Stories
Notice: We recently upgraded our comments. (Learn more here.) If you are logged in as a subscriber or registered user and already have a Display Name on edweek.org, you can post comments. If you do not already have a Display Name, please create one here.
Ground Rules for Posting
We encourage lively debate, but please be respectful of others. Profanity and personal attacks are prohibited. By commenting, you are agreeing to abide by our user agreement.
All comments are public.

Back to Top Back to Top

Most Popular Stories

Viewed

Emailed

Recommended

Commented