Today’s other big news — besides the revised schedule (below) — is the credit downgrade that CPS received from the major ratings agencies. This isn’t the first time. It’s just a coincidence that it comes right after the strike ended and CPS came to agreement with the teachers — the ratings agency describes the raises as only “moderate.” Bothered? Who’s to blame — Daley, Emmanuel, CTU, or Springfield? What would you do to cut the CPS budget? Comments are open, as always.
Bond-rating agency downgrades CPS debt Tribune: Moody’s Investor Service had already downgraded the Chicago Public Schools’ bond rating outlook to “negative” from stable in July, and cited Thursday the rating agency’s “view that the district will be hard-pressed to make the budget adjustments necessary
Chicago schools debt zapped again by Moody’s Crain’s Chicago: A Wall Street ratings firm today issued its verdict on the deal that ended the Chicago Teachers Union strike, downgrading Chicago Public Schools debt for the second time in less than a quarter.
Chicago Public Schools’ credit rating cut by Moody’s Sun Times: The Chicago Board of Education’s credit rating was lowered to A2 from A1 by Moody’s Investor Service, Reuters news service reported Thursday. Moody’s said Chicago Public Schools hasn’t accounted for the “moderate” pay raises in the tentative agreement with the teachers union.
Moody’s Downgrades Chicago Schools For Caving To The Teacher’s Union BusinessInsider: A leading bond-rating agency has downgraded the Chicago Board of Education’s debt in the wake of the settlement of the Chicago Teacher’s Union’s recent strike.
READY FOR REFORM
Poll shows Illinois is actually ready for reform WBEZ: A new poll shows Illinois is ready for reform, the regular NFL refs are back and RIP Andy Williams.
Paul Tough WBEZ: Paul Tough appears in conversation with Alex Kotlowitz to discuss Tough’s new book, How Children Succeed: Grit, Curiosity and the Hidden Power of Character.
Changes on Board? PURE: Public Participation Sign-Up will be revamped for the October meeting. On-line sign-up will be allowed. The Board members are maintaining “Office Hours.” Interested members of the public may request a meeting with Board Members by calling 773-553-1600.