Chicago Credit Rating Cut by Moody's to Two Steps Above Junk

Chicago Mayoral candidate Jesus "Chuy" Garcia gives a thumbs up sign after voting on election day Feb. 24, 2015 in Chicago. Photographer: Scott Olson/Getty Images -- Chicago had its credit rating cut to within two steps of junk by Moody's Investors Service because of mounting pension liabilities, underscoring the city's fiscal stress as Mayor Rahm Emanuel faces an unprecedented runoff.

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