S&P revises Chicago's outlook to negative over pension payments

CHICAGO, Sept 16 Mon Sep 16, 2013 1:52pm EDT

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CHICAGO, Sept 16 (Reuters) - Standard & Poor's Ratings Services revised the outlook on Chicago's A-plus general obligation rating to negative from stable, citing a looming jump in the city's public pension payments.

"The outlook change reflects our view of the risks involved in how the city will address its upcoming, large pension payments," said S&P credit analyst Helen Samuelson in a statement released late on Friday.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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