Budget season is upon us, and Chicago is facing a $1.2 billion budget gap. Last year's contentious budget battle led to an agency downgrading Chicago’s credit rating. Earlier this year, host Jacoby Cochran talked with DePaul University professor Amanda Kass about how municipal credit ratings work, why Chicago is close to “junk” status, and what it says about the city’s financial health.

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Does Chicago’s Credit Rating Actually Matter?