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Moody's, Citing Pension Crisis, Downgrades Chicago's Debt to Junk Status
Chicago Sun-Times 
May 12, 2015
"Moody's Investor's Service on [May 12] dropped Chicago's bond rating two more notches -- to junk status ... The decision to drop the bond rating that determines city borrowing costs -- from Baa2 to Ba1 with a negative outlook -- comes just days after the state Supreme Court unanimously overturned state pension reforms and placed Emanuel's plan to save two of four city employee pension funds in similar jeopardy."
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