S&P Revises Chicago's Outlook to Negative

Via Reuters/Chicago Tribune:

Citing an upcoming increase in pension payments, Standard & Poor's Ratings Services revised the outlook on Chicago's A-plus general obligation rating to negative from stable.

"The outlook change reflects our view of the risks involved in how the city will address its upcoming, large pension payments," said S&P credit analyst Helen Samuelson in a statement released late on Friday.

Related post: Moody's Downgraded Chicago, Cook County and Illinois Because of Unfunded Pension Liabilities and Rising Costs; Illinois Lost $20.4 Billion of Annual Personal Income Between 2000 and 2010
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