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芝加哥信用评级下调
CHICAGO, March 5 (Xinhua) -- Moody's Investor1 Service Tuesday lowered Chicago's upcoming 388-million-dollar bond issuance from A3 to Baa1, and gave the city a "negative outlook".
Chicago Tribune reported that though the new rating is still investment grade, it has put the city on a lower tier and could increase the cost of the city government to borrow money.
The rating "reflects the city's massive and growing unfunded pension liabilities," the new rating report said.
Moody's concluded Chicago has the highest level of unfunded pension debt "of any rated U.S. local government." "As such, the city's financial operations will remain structurally2 imbalanced," the report stated.
Moody's downgrade of credit worthiness3 of Chicago came one week after Standard & Poor's Ratings Services issued a report saying financially strapped4 Chicago had far more wherewithal to restore its financial health than bankrupt Detroit.
Earlier, two other major agencies maintained their existing debt ratings for upcoming city bond issue by Chicago.
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1 investor | |
n.投资者,投资人 | |
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2 structurally | |
在结构上 | |
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3 worthiness | |
价值,值得 | |
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4 strapped | |
adj.用皮带捆住的,用皮带装饰的;身无分文的;缺钱;手头紧v.用皮带捆扎(strap的过去式和过去分词);用皮带抽打;包扎;给…打绷带 | |
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