KBRA Releases Report Placing the City of Chicago, IL G.O. Rating on Watch Downgrade; Assigning "A" Rating to the City's G.O. Bonds, Refunding Series 2024B

On November 12, 2024, KBRA placed the City of Chicago's General Obligation Bond rating on Watch Downgrade, reflecting the mounting fiscal challenges confronting the City in light of a $982.4 million projected 2025 Corporate Fund budgetary shortfall. KBRA expects to resolve the Watch status by early January 2025, pending the outcome of budget deliberations by the Chicago City Council. Concurrently KBRA assigned a long-term rating of "A" to the City's General Obligation Bonds, Refunding Series 2024B and affirmed the long-term rating of "A" on the City's outstanding General Obligation Bonds.

To access ratings and relevant documents, click here.

Click here to view the report.