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Chicago Pension Ruling Seen as a Loss for Investors
BloombergLink to more items from this source
Nov. 25, 2015
"As Chicago awaits the ruling on whether Mayor Rahm Emanuel's plan to save its retirement funds from insolvency is dead or alive, investors are already marking the fight down as a loss that will strain city coffers and boost pension costs by billions.... Moody's Investors Service said Nov. 10 that rejecting the pension fix could pressure Chicago's credit quality, but has factored such a decision into its speculative-grade rating on the city that has a $20 billion pension shortfall."

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