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Moody's Slashes Chicago Credit Rating To Junk Level

By Ben Conarck (May 13, 2015, 2:02 PM EDT) -- Moody's Investors Service on Wednesday slashed Chicago's credit rating to a junk level Baa2 rating from its previous status of Ba1, saying that a recent Illinois court ruling burying the state's attempt to scale back retiree benefits dampened hopes of the city climbing out of its unfunded pension liability hole....

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