CHICAGO, June 26 Fitch Ratings on Wednesday put
credit ratings on nearly $8.7 billion of outstanding Chicago
debt on a watch list for a possible downgrade, citing the city's
growing unfunded public pension liability.
"The unfunded liabilities recorded in the city employees'
pension funds continue to rise without a corresponding increase
in funding," Fitch said in a statement, pointing to a combined
funding ratio for the city's four retirement funds at only 35.2
percent at the end of 2012.
Fitch placed Chicago's AA-minus general obligation and sales
tax revenue bond ratings and A-plus commercial paper notes
rating on the watch list.