Wall Street rating agency revises City Hall's financial outlook to 'negative'

Wall Street rating agency revises City Hall’s financial outlook to ‘negative’ – Chicago Sun-Times

A Wall Street rating agency on Tuesday assigned an A- bond rating to Mayor Brandon Johnson’supcoming plan to borrow more than $600 million for infrastructure, housing and economic development, but revised the outlook to “negative,” signaling a future downgrade. Fitch said the negative outlook is “driven by a lack of substantial progress procuring permanent, high-impact solutions” to a structural budget gap of $1.12 billion — 20% of the corporate…

Wall Street rating agency revises City Hall's financial outlook to 'negative'

A Wall Street rating agency on Tuesday assigned an A- bond rating to Mayor Brandon Johnson’s upcoming plan to borrow more than $600 million for infrastructure, housing and economic development, but revised the outlook to “negative,” signaling a future downgrade.Fitch said the negative outlook is “driven by a lack of substantial progress procuring permanent, high-impact solutions” to a structural budget gap of $1.12 billion — 20% of the corporate…