Chicago Paying The Price For Junk-Bond Status

[Originally published by Forbes]

 

It appears that Chicago’s debt problem, which has long inspired from the city a combination of neglect and further excess, is coming home to roost. On May 12, Moody’s downgraded the city’s general obligation bonds to junk. In the two months since, the city has paid the price through higher borrowing costs.  [read the rest at Forbes]