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Cash-strapped Illinois, Chicago set to seek billions from investors

MARCH 26, 2019 | by Gunjan Banerji | THE WALL STREET JOURNAL

Illinois and its biggest city are on track to borrow hundreds of millions of dollars starting this week, a test of investors’ willingness to lend to stressed governments prone to spending more money than they bring in. … Many say the Windy City’s finances are in far worse shape than the state’s. … Carole Brown, Chicago’s departing chief financial officer, said the city has shown a commitment to managing finances prudently.

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