Chicago Still Has Time to Embrace Pension Reform, Moody’s SaysBy
Unfunded pensions, debt equate to nine times operating revenue
Downgrade is more likely than upgrade for city, Richman Says
Chicago still has time to fix its pension problem, but if the junk-rated city wants to improve to investment grade, it must reverse the direction of its mounting retirement debt, according to Naomi Richman, a managing director at Moody’s Investors Service.
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