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How cash-strapped Chicago snagged a triple-A rating for its new bonds

from Fox Business

Chicago is running a multimillion-dollar deficit and faces a pension-funding crisis that dwarfs many others around the country. Yet the nation's third-largest city is on the verge of selling as much as $3 billion in bonds at a triple-A rating, the latest twist in the tale of cash-strapped U.S. municipalities adopting Wall Street financial engineering in their struggle to raise money in the market. more


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