Chicago receives S&P bond rating downgrade to BBB | Bond Buyer: S&P Global Ratings downgraded Chicago's general obligation debt to BBB from BBB-plus, saying the 2025 budget fails to address a structural imbalance.
Bankrupt Gritstone's Creditors Ask to Kill Hercules' Secured Claim: Unsecured creditors of bankrupt vaccine maker Gritstone bio Inc. asked a federal court to find that any remaining secured claims of its venture-debt provider, Hercules Capital Inc., are worth nothing.
Buffalo Diocese's Bankruptcy Judge Sets September Plan Deadline: The Diocese of Buffalo’s minimal progress toward resolving more than 900 clergy sex abuse claims through mediation has prompted a judge to bring in additional help and set a September deadline to file a bankruptcy exit plan.
Craft Retailer Joann Likely to Liquidate, Lenders Tell Judge: Bankrupt craft retailer Joann Inc. is “way more likely” to liquidate and fire 19,000 workers if the company must find a buyer in less than 30 days, out-of-the-money creditors told a judge overseeing the insolvency case.
