“'S&P Global Ratings views POB issuances in environments of fiscal distress or as a mechanism for short-term budget relief as a negative credit factor,' the report states. 'Depending on the structure [of the pension borrowing] and whether or not the city would make changes to its pension funding discipline, issuances could have rating implications for Chicago.' … That’s not the only red flag waved by the Wall Street rating agency.”
Read the full article on: Chicago Sun-Times