Story by 89 WLS reporter Bill Cameron
(CHICAGO) The state's financial mess is now affecting the city's credit rating
Moody’s dinged the city’s credit rating on some borrowing backed by gasoline taxes the state is supposed to pass on to city hall. It then rated the outlook for future such borrowing as negative.
City Hall is blaming the state’s financial mess and reminding all who will listen that the mayor has been talking about the need for pension reform.
“Putting your head in the sand doesn’t mean it goes away,” Emanuel said.
And while some pension reform legislation is on the move in Springfield, it’s too early to say anything will reach the governor’s desk.
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