The Wall Street ratings agency that two months ago reduced the outlook for $3 billion in Cook County debt is apparently in line for payback from the Stroger administration.No word yet from the Obama campaign on this one.
Sources said Fitch Ratings and its opinion were omitted in documents outlining a pending $750-million county bond issue and circulated Wednesday to County Board members.
In the wake of the county’s sales tax increase on July 1, Fitch Ratings dropped its outlook for county debt from “stable” to “negative,” foreshadowing a rating downgrade that would increase the county’s costs of borrowing.
Thursday, September 11, 2008
Cook County dumps Fitch Ratings after downgrade
Crain's Chicago Business reports:
