Chicago Announcements October 20, 2023

Mayor Brandon Johnson announced Thursday that the city had received ratings upgrades from Fitch Ratings for its general obligation credit and Sales Tax Securitization Corporation. Both ratings were raised by one notch. The general obligation ratings were raised to ‘BBB+’ from ‘BBB’ and the Sales Tax Securitization Corporation ratings were raised to ‘AA+’ from ‘AA.’  The mayor said every city credit has received an upgrade in the past year. The mayor said the upgrades “reaffirm the fiscal stability” of the city. “The ratings not only prove the excellence of our City’s operational and financial management, but also confirm that we have the ability to attract additional investment, boost economic vitality, and further strengthen our City’s finances,” the mayor said in a news release.

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