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White House officials briefed on Chicago's credit rating: spokesman
May 15, 2015 / 6:52 PM / 3 years ago

White House officials briefed on Chicago's credit rating: spokesman

WASHINGTON (Reuters) - Senior Obama administration officials have been briefed on the financial situation in Chicago, the White House said on Friday, after Moody’s Investor Service this week downgraded the city’s credit rating to junk.

White House spokesman Eric Schultz said the Treasury Department had been monitoring Chicago’s municipal finances, and that President Barack Obama was “generally” made aware of such situations.

A Treasury spokesman said the department has been monitoring the fiscal situation in Chicago for some time and has briefed senior administration officials about the recent downgrades.

Reporting by Emily Stephenson and Jason Lange; Editing by James Dalgleish

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