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Art Institute of Chicago Borrows $100 Million for Pensions
Bloomberg Link to more items from this source
Oct. 9, 2012
"The Art Institute of Chicago, the home of paintings by Henri Matisse and Pablo Picasso, is selling about $100 million of taxable and tax-exempt bonds partly to shore up unfunded pension obligations.... The Art Institute is rated A1 by Moody's, its fifth-highest grade, in part reflecting the museum's pension and retirement liabilities. The benefits totaled $64.5 million in the 2012 fiscal year, according to the Moody's report."

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