Moody's downgrades Chicago amid pension crisis

``Chicago is home to one of the most troubled pension systems in the country. In total, the city's four pension funds -- for firefighters, police officers, and two for other city workers -- face funding holes of nearly $20 billion. Tuesday's downgrades affect $8.3 billion in city debt, including $7.8 billion in general obligation bonds and $556 million in sales tax bonds. It follows previous downgrades by Moody's and other ratings agencies.''