Chicago's general obligation and sales tax ratings are cut 3 notches by Moody's to A3 from Aa3...

|By:, SA News Editor

Chicago's general obligation and sales tax ratings are cut 3 notches by Moody's to A3 from Aa3 as news of the city's large and growing pension liabilities and budget pressures apparently finally reaches the agency. The move affects $8.2B of the city's GO and sales tax debt. The outlook is negative.