August 25, 2015
The Bond Buyer
The Chicago Park District heads to market Thursday with $88 million of double-A rated debt that market participants say should offer up some alluring yield premiums due to the troubled Chicago name. The district's highest rating of AA-plus comes from Standard & Poor's with Kroll Bond Rating Agency putting the district at AA and Fitch Ratings assigning its AA-minus rating. All three affirmed the ratings and their stable outlook. The deal should price cheaper "because of the radioactivity of Chicago and its name," said Brian Battle, director of trading at Performance Trust Capital Partners.