NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has downgraded the long term rating of the Board of Education of the City of Chicago’s (The Board) General Obligation Bonds to BBB- from BBB+ and removed the rating from Watch Downgrade. The outlook has been revised to negative. KBRA’s decision to downgrade the Board’s general obligation rating is based on the structural imbalance in the adopted FY 2016 budget, which includes an unfunded budget gap of $480 million as well as significant
| < Prev | Next > |
|---|
