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Reported debt deal, credit downgrades may add to Chicago budget woes

Chicago is issuing a $500 million bond to cover firefighter back pay and legal settlements after Fitch and KBRA downgraded the city’s bond rating to BBB+, raising borrowing costs.

Summary by The Center Square
(The Center Square) – Chicago taxpayers may face higher costs if the city follows through with a reported bond deal.

3 Articles

WirePoints Illinois Financial NewsWirePoints Illinois Financial News
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Reported debt deal, credit downgrades may add to Chicago budget woes – Center Square

It was reported last week that Mayor Brandon Johnson is structuring the city’s debt with a $500 million deal to cover back pay owed to firefighters and anticipated lawsuit costs.

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The Center SquareThe Center Square
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Reported debt deal, credit downgrades may add to Chicago budget woes

(The Center Square) – Chicago taxpayers may face higher costs if the city follows through with a reported bond deal.

·United States
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Just the NewsJust the News
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Chicago may be facing credit downgrades, adding to its current budget woes

The Chicago Tribune Editorial Board reported last week that Mayor Brandon Johnson is structuring the city’s debt with a $500 million deal to cover back pay owed to firefighters and anticipated lawsuit costs.

·Washington, United States
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Just the News broke the news in Washington, United States on Tuesday, March 3, 2026.
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