Steve Grzanich has the business news of the day with the Wintrust Business Minute.
Chicago’s credit rating has been upgraded by Fitch Ratings. Fitch boosted the rating one notch to BBB+ from BBB with a stable outlook, citing the city’s improving economy and declining long-term debt burden. The upgrade comes about a year after Chicago climbed out of junk status, in a rating issued by Moody’s Investor Service. Credit rating agencies have been concerned about Chicago’s unfunded pension liability and now the cost of the migrant influx.
Also, home sales in the Chicago area hit the lowest level since 2012. Listen for more below: