S&P cuts Dolton, Ill. rating to junk ...

S&P cuts Dolton, Ill. rating to junk status

There are 10 comments on the Reuters story from May 8, 2013, titled S&P cuts Dolton, Ill. rating to junk status. In it, Reuters reports that:

Standard & Poor's Ratings Services on Wednesday cut its underlying rating on the Village of Dolton, Illinois, to BB, junk status, from A-minus. S&P said the downgrade is based on the "village's low liquidity, low unreserved general fund balance, and projections of further general fund drawdowns and increased loans to those funds." S&P also said the ... (more)

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BTW

Chicago, IL

#1 May 8, 2013
Did I imagine the former mayor saying that he thinks he left the village in a better position than when he first got on the board two meetings ago? It was good to get out just before we found out about this.
sorelosers

Frankfort, IL

#2 May 8, 2013
Just another problem Rogers will have to deal with, but he will get the job done
dblanke

Mountain Home, AR

#3 May 9, 2013
There goes the neighborhood !!
True Grit

Baltimore, MD

#4 May 14, 2013
All I can say is what Florida said on Good Times when she broke the dish after James' funeral: "D, D, D". Where is all the money? The village bought a lot of properties and rented them out to Section 8 folks. There should be plenty of money. From A- to zilch in 30 seconds...
BTW

Chicago, IL

#5 May 14, 2013
True Grit wrote:
All I can say is what Florida said on Good Times when she broke the dish after James' funeral: "D, D, D". Where is all the money? The village bought a lot of properties and rented them out to Section 8 folks. There should be plenty of money. From A- to zilch in 30 seconds...
They spend a lot of money in the south burbs on personnel..for instance board salaries, benefits, unnecessary positions etc. It's not just Dolton (which doesn't make me feel good) but still. For example: Dolton had an Inspector General, as did Country Club Hills. Both towns are too small to justify having IGs which were both related to an elected official/village executive. When you have small towns with little retail and poor housing values creating unnecessary jobs...don't expect much in the way of revenue. Also, staff that only answers to the mayor??? A part-time mayor of a town with less than 25,000 people? Why?
Anubis

Glenwood, IL

#6 May 15, 2013
Dolton is officially the slums.
former resident

Portsmouth, NH

#7 May 26, 2013
any surprise?
arby

Lansing, IL

#8 May 27, 2013
former resident wrote:
any surprise?
not really, they learned well from the Democratic regime in Chicago and CROOK county.
Doltons Future

United States

#9 Jul 20, 2013
Get Off My Lawn

Franklin, MI

#10 Jul 20, 2013
Doltons Future wrote:
http://libertyalliance.com/201 3/07/pure-detroit-a-tragically -humorous-parody-of-michigans- tourism-ads/
That was great! Thanks for posting it! Dolton's future alright!

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