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Chicago's Position Bolstered by Deal Overhaul

May 22, 2015

Chicago's revamp of its $800 million floating-to-fixed debt restructuring helps its position as it heads into the market this week with battered credit ratings, say several buyside participants. "It was a good tactical decision to delay. It's very difficult coming into the market the week after those kind of downgrades," said Brian Battle, director of trading at Performance Trust Capital Partners. "The decision to upsize was smart and to bring in more horsepower was a good idea."

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