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Pension funding to weigh on Chicago's credit rating

from Reuters

Chicago will maintain its low-investment grade rating with its fiscal 2017 budget that reduces a chronic deficit, but the city still faces pressures on its credit quality due to pensions and other expenses, S&P Global Ratings said. The spending plan for the fiscal year that begins Jan. 1 reduces Chicago's structural deficit to $137 million, the lowest gap since 2011, S&P said in a report. more

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