Chicagoans' Cost to Exit Swap Agreements Approaches $300 Million

Updated on
  • City is selling $439 million in wastewater debt Wednesday
  • Borrowing will convert variable-rate sewer debt to fixed-rate

Chicago’s attempt to clean up a legacy of wrong-way bets on interest rates is costing taxpayers at least $270 million since Moody’s Investors Service cut its rating to junk in May, city documents show.

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