S&P raises Chicago senior-lien wastewater bond rating

Fri Aug 29, 2014 11:14am EDT

Aug 29 (Reuters) - Standard & Poor's raised its rating on Chicago's senior-lien wastewater debt outstanding to 'AA' from 'AA-minus', citing the city's efforts to improve its financial position.

The city is "addressing its capital needs in a timely fashion and still maintains rates that will not stress its service base," Standard & Poor's credit analyst Corey Friedman said. (bit.ly/VSNQuG)

The agency also raised its rating on Chicago's second-lien wastewater revenue-secured debt outstanding to 'AA-minus' from 'A-plus'.

Standard & Poor's has assigned an 'AA-minus' long-term rating and stable outlook to the city's series 2014 second-lien wastewater transmission revenue project bonds. (Reporting By Sudarshan Varadhan; Editing by Simon Jennings)

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

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article