Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Chicago’s debt gets an upgrade from Fitch Ratings, the first in 12 years. The upgrade is from BBB- to BBB. Fitch says it made the move because of the city’s “improving pension funding practices” and more conservative actions around maintaining reserves. City Hall estimates the ratings change will save $100 million in interest for every $1 billion borrowed.

Also, Chicago’s historic Ambassador Chicago hotel is up for sale. Listen for more below: