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A debt-ratings rift rattles Chicago

from The Wall Street Journal

From May 26: The world’s two largest ratings firms are divided in their view of Chicago’s fiscal health as the city grapples with a $20 billion pension hole, a potential preview of battles expected to break out around the U.S. as retirement obligations mount. Moody’s Investors Service lowered Chicago’s bonds to junk status while rival Standard & Poor’s Ratings Services settled on an investment-grade A-minus rating, a more optimistic view of the nation’s third-largest city. more

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