WebFeb 24, 2015 · After Moody's Investor Service downgraded the Village of Morton Grove's bond rating from Aa2 to Aa3 on Feb. 6, the board called in an expert to analyze the move. The GO bonds are payable from the city's full faith and credit and its ad valorem tax, without limitation as to rate or amount. The sales tax securitization bonds have a lien on the state-collected portion of the city's home rule sales and use taxes and the local share of the state-wide sales and use taxes; the second lien … See more The Outlook revision to Stable reflects the ongoing revenue recovery across the city and the significant infusion of federal fiscal aid that ease pressure on the city's investment grade … See more Revenue Framework: 'aa' Fitch expects slow, steady economic expansion will lead to continued solid revenue growth, excluding the effect of new or raised taxes and fees. The city's … See more Chicago serves as the economic and cultural center for the Midwestern region of the United States. The city's economy was hard hit by the coronavirus pandemic, particularly the … See more Factors that could, individually or collectively, lead to positive rating action/upgrade: --A period of sustained structural budgetary balance and preservation of … See more

Chicago’s Debt Dereliction Chicago Economy News …

WebJun 8, 2015 · In addition to the city of Chicago 's downgrade, Moody's also cut its ratings on a number of other Chicago credits, including: Chicago Sales Tax debt to Ba1. … WebDec 7, 2024 · December 7, 2024. On December 4 the City of Chicago closed on a deal to refund $673 million of its General Obligation bonds with bonds issued by the Sales Tax Securitization Corporation (STSC). The City Created the STSC in October 2024 after such corporations were authorized by the Illinois General Assembly as part of the FY2024 … gooty church

Municipal bonds through a potential recession—What to expect

WebAug 9, 2011 · Chicago Tribune Aug 09, 2011 at 12:00 am Chicago and Illinois officials could face higher borrowing costs in the wake of the first-ever downgrade of U.S. debt late last week by Standard & Poor's. WebMar 2, 2024 · In January 2024, Cook County issued $499.8 million in general obligation and revenue bonds. A total of $330.5 million was issued by the County in Series 2024A general obligation refunding bonds. These bonds will be used to refund the County’s outstanding Series 2010A and 2010G bonds [1]. The bonds being retired had an average interest … WebJan 10, 2024 · Downgrades occur in municipal bonds as they do in other fixed income credit sectors. In any given year, roughly 1% of AAAs, AAs, and As each are downgraded a full rung according to Moody's data from 1970 to 2024. Notably, these are lower rates than what occurs within the global corporate market, where such data figures are 5% and higher. chicken sausage and rice crock pot