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

Reuters News
Posted: May 15, 2015 2:51 PM

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 he said President Barack Obama was "generally" made aware of such situations.

(Reporting by Emily Stephenson)