Chicago's Credit Rating Dealt Blow By Standard & Poor's

CHICAGO (AP) -- Chicago's credit rating took another hit with the decision by Standard & Poor's to lower the rating of the city's general obligation bonds two notches to A- from A+, still investment grade. Standard & Poor's action Thursday follows a decision earlier this week by Moody's Investor's Service to lower Chicago's credit worthiness to junk status. The lower credit ratings increases the cost of the city's borrowing. Standard & Poor's cited Moody's action in its decision. The rating agen...