Illinois Quick Hits: Chicago suffers credit rating downgrades

By Jim Talamonti | The Center Square
The Center Square

(The Center Square) – Two credit agencies have downgraded Chicago’s general obligations bond rating to BBB+.

Fitch Ratings cited consecutive operating deficits since 2023 and high dependence on non-structural solutions and assumptions. KBRA cited deteriorating fund balance, narrowing liquidity, and exceptionally high and rising fixed cost burden, including the state legislature’s passage of Tier II pension adjustments last year.

CTU LEADER PUSHES PRITZKER TO TAX BILLIONAIRES

A coalition of legislators, labor unions and activists are pushing for taxes on wealthy people and large businesses to fund public schools, roads, transit and services.

Chicago Teachers Union vice president Jackson Potter said governors like J.B. Pritzker have the power and the road map, and Illinois should be a leader and not a follower. Potter’s comments were part of a statement from a national coalition’s push to “tax the rich.”

MORE BALLOT ERRORS REPORTED

Illinois Republican gubernatorial candidate Ted Dabrowski says approximately 25 counties have placed an invalid candidate on the March 17 primary ballot.

The Illinois State Board of Elections excluded Joe Severino from final candidate certification and sent an email to county clerks stating that Severino’s name should not be included due to a circuit court decision.

Dabrowski said Severino’s placement on the ballot violates the constitutional and statutory requirement for statewide ballot uniformity.