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Ex-Chicago School Chief Says Bankruptcy Would Trigger 'Death Spiral'
A Chapter 9 filing by the Chicago Public Schools could push the distressed district into a financial "death spiral," the district's former chief executive officer Paul Vallas said Tuesday.
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The National Association of Bond Lawyers has updated its bankruptcy guide for members with new information drawn from the relatively high number of municipal bankruptcy filings in the last few years.  more »
Pittsburgh-based PNC Capital Markets LLC hired public finance banker Kerry Rudy in Chicago to lead its national healthcare sector and is bolstering its New York team with the addition of Lawrence Stephens to lead coverage of the city.  more »
Former Ohio Deputy Treasurer and Chicago Comptroller Amer Ahmad was been extradited to the United States from Pakistan to serve a 15-year prison term for his role in a kickback scandal involving state investment business at the Ohio treasurer's office.  more »
A bonding request made by Riverland Community College is important for the economic health of southern Minnesota, school administrators told state legislators Wednesday afternoon at Riverland.  more »
The Chicago Board of Education credit suffered its latest blow Thursday when Kroll Bond Rating Agency dropped its rating two levels to BBB-minus, allowing the district to retain its sole investment grade level rating.  more »
The junk-rated Chicago Board of Education unanimously signed off on a $6.4 billion budget panned by rating agencies for rolling over debt and gambling on uncertain state support.  more »
The Illinois Metropolitan Pier and Exposition Authority plans to enter the market after revamping its hotel financing plan following rating downgrades triggered by the state's budget impasse.  more »
The oil and gas industry is pressing Congress to permit exports of crude as prices remain at the lowest since the 2008 global financial crisis. The campaign comes as Houston and other energy dependent credits face growing pain from the falling prices, according to Fitch Ratings.  more »
A federal judge this week sided with Ohio when he dismissed a lawsuit challenging the use of Ohio Turnpike toll revenue to fund projects that aren't on the turnpike itself.  more »
NEW LONDON -- When New London-Spicer students attend their school open house Thursday to meet their teachers and see their classrooms, their parents will receive information about a $21.6 million proposal to expand the school facilities.  more »
Naperville is making a push to give the public information about its proposed half-percent city sales tax by updating its website and offering to meet with anyone wishing to discuss the city's financial situation.  more »
One year and two days after one of La Grange's worst floods, the Village Board has taken the next step in selling bonds to finance $14.5 million in sewer improvements.  more »
The Chicago Park District heads to market Thursday with $88 million of debt that market participants say should offer up some alluring yield premiums due to the troubled Chicago name.  more »

A budget compromise this year to reduce sequester cuts seems unlikely, and agencies like the Defense Department have fewer opportunities to reduce the impact of spending cuts.

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