It’s expected to be some time before the courts decide whether Illinois can trim retirement benefits for public school teachers, university workers, and state employees. But the uncertainty continues to affect the credit outlook of schools and community colleges across the state.
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Detroit's historic bankruptcy case is entering the home stretch. The crucial, final trial phase begins Tuesday in a Detroit courtroom. It will decide the fate of a plan to wipe out billions of dollars in debt and help Detroit emerge from bankruptcy as a new, revitalized city.