NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded the Chicago Board of Education, IL's (the board) approximately $6.1 billion of unlimited tax general obligation (ULTGO) bonds to 'BB+' from 'BBB-'. The rating has been placed on Negative Watch. SECURITY The bonds are general obligations, payable from unlimited ad valorem taxes levied against all taxable property in the city of Chicago. Most of the bonds are additionally secured by state aid revenue, though this does not provide any enhance
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