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    Chicago faces credit downgrade due to pension debt

    by  • July 19, 2013 • News • 0 Comments

    (AP) — Moody’s Investors Service is downgrading its debt rating for Chicago because of the city’s “very large and growing” pension liability. The agency said late Wednesday it’s lowering its rating of the nation’s third-largest city from Aa3 to A3. The ratings for general obligation debt and sales tax debt are still investment grade....

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    Illinois unemployment up slightly in June

    by  • July 18, 2013 • News • 0 Comments

    (AP) — The unemployment rate in Illinois increased slightly in June while manufacturers and local governments cut more jobs than they added. The Illinois Department of Employment Security says Thursday that unemployment increased to 9.2 percent last month. That was up from 9.1 percent in May. June’s figure ended two months of decreasing unemployment....

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