Junk City Snapshot: Chicago Taxes Rise, But So Does Pension Debt

  • Yields on long-term taxable bonds have fallen since rating cut
  • With tax increase, city paying more into teetering pensions

When Chicago’s credit rating was cut to junk by Moody’s Investors Service in May 2015, the nation’s third biggest city was likened to Detroit, the car-industry hub that was pushed into bankruptcy by a decades-long financial decline.

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