Wintrust Business Minute: Financial outlook for Chicago is now negative, per Fitch Ratings

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

The financial outlook for the City of Chicago has been changed to negative by Fitch Ratings. In its revision, Fitch says there’s been a lack of meaningful progress in closing a nearly $1 billion structural budget gap. The agency has suggested Chicago could face a future downgrade unless it stabilizes its finances. Fitch says the situation could be made worse if the city loses any part of the $3 billion in federal funding currently at risk. Losing that funding could force the city to deplete its reserves or come up with short term fixes.

Also, United Airlines travelers will soon have less time to check in for their flights. Listen for more below: