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Analyst: CPS Has ‘No Choice’ But To Borrow $1B Amid Cash Crunch

June 25, 2015
CBS Chicago

A top financial analyst said bond rating agencies probably won’t be troubled by the Chicago Board of Education’s vote to borrow more than $1 billion to help the Chicago Public Schools address a massive budget crunch in the coming year. It might not sound like a good idea for CPS to borrow $1 billion more when it’s already heavily in debt, but Performance Trust Capital Partners director Brian Battle said CPS has no real options.

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