HOW LOW WILL IT GO? Chicago schools’ credit rating sinks below ‘junk’ status

HOW LOW WILL IT GO? Chicago schools’ credit rating sinks below ‘junk’ status

- in Grumpy Educators
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CPS

 

EAG News by Victor Skinner

CHICAGO – Moody’s Investors Service now rates Chicago Public Schools’ credit below “junk” status. After dropping CPS’ credit to “junk” in May, Moody’s cut CPS’ rating again Monday from Ba3 to B1, and warned it could cut its rating further if the school district doesn’t correct its financial crash course, the Associated Press reports. “The downgrade to B1 reflects the precarious liquidity position of the district. CPS has increasingly relied on market access and […]

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