Trending...
- wine2wine Vinitaly Business Forum 2025: Equipping the wine industry with the tools to face an uncertain future - 167
- John Thomas calls for unity and prayer after tragic loss - 111
- Breaking: 50+ runners from 20+ states relay custom 9/11 flag 485 miles from Shanksville through DC to Ground Zero for memorial remembrance run
CHICAGO ~ Chicago Mayor Announces Upgraded Bond Ratings for City's General Obligation and Sales Tax Securitization Corporation
Chicago Mayor Brandon Johnson has announced that Fitch Ratings, Inc. has upgraded the City of Chicago's General Obligation (GO) rating to 'A-' from 'BBB+' and the Chicago Sales Tax Securitization Corporation's (STSC) senior lien bonds to 'AAA' from 'AA+'. The ratings agency has also maintained a Stable outlook for both STSC and GO.
According to Mayor Johnson, this upgrade is a recognition of the city's commitment to responsible fiscal management and its strong economic strength. He stated, "We are appreciative that Fitch Ratings has increased the City's rating on our bonds, which we use to fund needed investments in our infrastructure. These rating upgrades recognize our commitment to responsible fiscal management and the economic strength and vitality of Chicago."
The upgrades were made under Fitch's new U.S. Public Finance Local Government Rating Criteria. The agency cited the city's adherence to sound fiscal practices and its commitment to solving budget gaps through structural solutions as contributing factors. Additionally, Fitch noted that Chicago's demographic and economic profile remain an asset, with a sufficient population size and diversified economy that qualifies for their highest overall size/diversification category.
More on illi News
Jill Jaworski, Chief Financial Officer for the city, believes that this upgrade is long overdue. She stated, "For years, we have believed that rating agencies undervalue the strength and potential of Chicago." Jaworski also noted that the new criteria used by Fitch now recognize Chicago's financial resilience and resources derived from its large and diversified local economy.
The improved bond ratings will lead to lower borrowing costs for the city and broaden the pool of investors in its bonds. This will result in savings for the city, which can then be used to further invest in important programs such as education, public safety, and infrastructure. With a stronger financial position, the City of Chicago can enhance these services and improve the overall quality of life for all its residents.
Mayor Johnson and his administration are committed to building a stronger and more resilient Chicago for all its residents. This upgrade in bond ratings is a testament to their hard work and dedication to responsible fiscal management. The city's improved financial position will not only benefit its residents but also attract more investors and businesses, further strengthening Chicago's economy.
Chicago Mayor Brandon Johnson has announced that Fitch Ratings, Inc. has upgraded the City of Chicago's General Obligation (GO) rating to 'A-' from 'BBB+' and the Chicago Sales Tax Securitization Corporation's (STSC) senior lien bonds to 'AAA' from 'AA+'. The ratings agency has also maintained a Stable outlook for both STSC and GO.
According to Mayor Johnson, this upgrade is a recognition of the city's commitment to responsible fiscal management and its strong economic strength. He stated, "We are appreciative that Fitch Ratings has increased the City's rating on our bonds, which we use to fund needed investments in our infrastructure. These rating upgrades recognize our commitment to responsible fiscal management and the economic strength and vitality of Chicago."
The upgrades were made under Fitch's new U.S. Public Finance Local Government Rating Criteria. The agency cited the city's adherence to sound fiscal practices and its commitment to solving budget gaps through structural solutions as contributing factors. Additionally, Fitch noted that Chicago's demographic and economic profile remain an asset, with a sufficient population size and diversified economy that qualifies for their highest overall size/diversification category.
More on illi News
- Chicago: O'Hare International Airport Sets All-Time Passenger Record in July 2025
- The Hidden Triggers of Foreclosure Most Families Don't See Coming
- Strategic Partnerships with Defiant Space Corp and Emtel Energy USA Powerfully Enhance Solar Tech Leader with NASA Agreements: Ascent Solar $ASTI
- 120% Revenue Surge with Four Straight Profitable Quarters Signal a Breakout in the Multi-Billion Dollar Homebuilding Market: Innovative Designs $IVDN
- Leading Venture Capital Firms Recognize Wzzph Exchange's Technical Architecture and Security Framework as Industry Benchmark
Jill Jaworski, Chief Financial Officer for the city, believes that this upgrade is long overdue. She stated, "For years, we have believed that rating agencies undervalue the strength and potential of Chicago." Jaworski also noted that the new criteria used by Fitch now recognize Chicago's financial resilience and resources derived from its large and diversified local economy.
The improved bond ratings will lead to lower borrowing costs for the city and broaden the pool of investors in its bonds. This will result in savings for the city, which can then be used to further invest in important programs such as education, public safety, and infrastructure. With a stronger financial position, the City of Chicago can enhance these services and improve the overall quality of life for all its residents.
Mayor Johnson and his administration are committed to building a stronger and more resilient Chicago for all its residents. This upgrade in bond ratings is a testament to their hard work and dedication to responsible fiscal management. The city's improved financial position will not only benefit its residents but also attract more investors and businesses, further strengthening Chicago's economy.
0 Comments
Latest on illi News
- NKSCX Responds to "Coordinated Smear Campaign" as Anonymous Critics Emerge Following Regulatory Milestones
- Broadway Gala Honored Also an Italian
- $ONI Listed on MEXC as ONINO Powers Europe's Tokenization Engine Into Public Platform Launch
- AZETHIO Crypto Exchange Whitepaper Reveals MPC-Secured Infrastructure Processing 1.2 Million Transactions Per Second
- CELOXFI Platform Demonstrates Advanced Security Architecture and Regulatory Framework
- Work 365 Launches PV 3.0: The Keystone Power App for Microsoft CSPs
- Local consultant shows small businesses how to turn red tape into real money
- CU Aerospace DUPLEX Satellite headed to the ISS on SpaceX NG-23 Mission
- Tour Napa Like a Local: Vines of Napa Valley Wine Passport AKA Vine Pass Unlocks Hidden Gems
- Mather Goes Bold to Challenge Society's Views on Aging
- Dental Surgical Center Accepts Sedation Patients with Medicaid for MD, WV, PA and DC
- MooreSuccess Gaming Launches Digi 995: Color Protocol – A Futuristic Coloring Experience
- A New Era in Healthcare Marketing
- Chicago: Mayor Brandon Johnson Signs 'Right to Protest' Executive Order
- Sloan's Lake Dental Launches New Website to Enhance Patient Experience and Access to Modern Dental Care
- Only 3 Weeks Left till the Start of the OpenSSL Conference 2025
- InventHelp Inventor Develops Portable Sit-On-Scale (CLR-320)
- ENTOUCH Completes $50 million Funding Round
- Teaming Agreement with Emtel Energy USA to Advance Thin-Film PV Energy Storage Capabilities; NASA agreements for Solar Space Tech; Ascent Solar $ASTI
- Nebuvex Acknowledges Platform "Too Secure" for Anonymous Traders; Institutional Investors Disagree