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Chicago issues AAA-rated debt despite city’s junk rating

DECEMBER 6, 2017 | by Elizabeth Campbell | BLOOMBERG

By Elizabeth Campbell, includes “Chicago will start selling as much as $575 million of investment-grade-rated debt that’s backed by a dedicated share of sales-tax revenue it receives from Illinois, insulating bondholders from the city’s financial strains. … 'The corporation is a separate corporate existence and is bankruptcy remote from the city,' Carole Brown, Chicago’s chief financial officer and the president of the corporation, said in a roadshow presentation to investors.”

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