Chicago feels first effects of credit rating downgrade - FOX 10 News | myfoxphoenix.com

Chicago feels first effects of credit rating downgrade

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CHICAGO (FOX 32 News) -

Chicago is feeling the first effects of a big ratings credit downgrade by Moody's a few weeks back.

The bonds being offered by the city since the July 17 downgrade are costing the city about a quarter percent more than they would have before the downgrade.

That may not seem like much, but over several years it can add up to millions of dollars.

A $250 million O'Hare bond issue sold out easily Tuesday, a sign investors are still confident the city can pay its bills.

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