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Chicago's bond rating likely to drop to a notch above junk, no matter how and when budget stalemate ends

Another drop in Chicago’s bond rating may not mean much to taxpayers now, but it will mean plenty to their children and grandchildren. It would make city borrowing costlier, and could impede the city’s ability to borrow at a time when the it needs to rebuild aging infrastructure, grapple with climate change and replace shrinking federal and state funding. [...]