Fitch assigns AA to Chicago G.O. bonds

Fitch Ratings said it assigned an AA rating to Chicago's approximately $300 million general obligation bonds, refunding series 2008A, and $125 million G.O. bonds, taxable project and refunding series 2008B.

The bonds are expected to price on June 4 via negotiated sale.

Fitch also affirmed the AA rating on the city's $6.2 billion in outstanding G.O. bonds.

Additionally, Fitch said it upgraded the city's $142.2 million in outstanding sales tax revenue refunding bonds, series 2005A, to AA from AA- to bring the rating in line with the city's AA G.O. bond rating. The outlook is stable.

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