U.S. municipal bonds issued by Chicago held up in light trading even as the city's debt suffered another triple-notch ratings downgrade on mounting concerns about its public pension liabilities. Late ... more 
U.S. municipal bonds issued by Chicago held up in light trading even as the city's debt suffered another triple-notch ratings downgrade on mounting concerns about its public pension liabilities. Late on Friday, Fitch Ratings cut its credit rating on Chicago's $8 billion of unlimited tax general obligation bonds to A-minus from AA-minus, citing the city's lack of meaningful fixes for its underfunded city worker retirement system. In one of a handful of small Chicago debt trades on Monday, some of the city's 30-year taxable bonds, due January 2040, opened lower at 92.6 cents on the dollar from 93.5 cents on Friday. less 
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Wochit
Tue, Nov 12, 2013 6:33 PM EST