Tag: Fitch

Written by Diane Benjamin - editor

More on Normal’s credit rating AND debt

By:  Diane Benjamin Normal reported the same credit ratings in their financial statements that I reported in this story:  https://blnnews.com/2019/12/07/moodys-normal-doesnt-have-a-aaa-credit-rating/ PDF page 33:  https://normal.org/DocumentCenter/View/15625/CAFR19-FINAL-DOC What they failed to tell you is that Fitch is owned by a French company and is the smallest of the “Big Three” ratings companies.    https://www.sapling.com/7319147/sp-moodys-fitch-ratings S&P doesn’t not have […]

Written by Diane Benjamin - editor

Bond refinance good, but . . .

by: Diane Benjamin It is a good thing the City of Bloomington refinanced bonds and is saving money on interest.  Actually, it’s a no-brainer.  How many of you refinanced your home numerous times as interest rates dropped to historic levels.  Isn’t saving taxpayer money what we expect of government? One problem:  Fitch and Moody’s didn’t […]

Written by Diane Benjamin - editor

Fly on the Wall: Bloomington/Normal Pension lies

According to today’s Pantagraph, the IMRF (Illinois Municipal Retirement Funds) is changing their accounting, thus the funding of accounts will look much better. MUCH! This is the same IMRF that manages the funds, performance has been dismal at best.  Besides, they can always come back and raise taxes for more money.  No worries. Are you […]