August 16, 2013 / 7:48 PM / 4 years ago

Moody's cuts Cook County, Illinois bond rating to A1

CHICAGO, Aug 16 (Reuters) - Moody's Investors Service on Friday downgraded its general obligation rating for Cook County, Illinois, to A1 from Aa3, citing growing pension liabilities.

The credit ratings agency also kept a negative outlook on the lower rating due to "formidable" challenges facing the county in getting pension reform through the Illinois legislature. The downgrade affects $3.7 billion of outstanding debt.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below