Chicago's Credit Rating Downgraded Amid Fiscal Challenges

Fitch Ratings has downgraded Chicago's credit rating by one notch, citing the city's ongoing fiscal deficits and tensions between Mayor Brandon Johnson and the city council. Bloomberg posted on X, highlighting the financial strain faced by the city as it grapples with budgetary shortfalls. The downgrade reflects concerns over Chicago's ability to manage its financial obligations effectively, amid political disagreements that could impact fiscal policy decisions. The city's administration is under pressure to address these challenges to stabilize its financial standing and restore investor confidence.