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Market Doesn't Like Chicago's Odds in Pension Case

November 19, 2015

The municipal market's buyside, as do legal experts, sees Chicago's pension reform appeal to the Illinois Supreme Court as a longshot and wants the city to come up with an alternative. "First, it's a higher burden because the lower court ruled against the city and so they would have to overturn. Second, it's an argument the court has heard before in the state case although with a different nuance," said Brian Battle, director of trading in Chicago at Performance Trust Capital Partners.

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