Yvette Shields

The sovereign powers and strong general obligation repayment statute supporting Illinois’ investment-grade ratings are being tested by budget gridlock and what one analyst describes as approaching “service level insolvency.”

St. Louis-based Stern Brothers & Co. has hired longtime public finance banker and manager Linda Matkowski to serve as chief operating officer as the investment bank looks to put more teeth into its status as a woman-owned firm heading into its second century of business.

Chicago is a standout as the "worst" among its big city peers in key pension system measurements, according to a new S&P Global Ratings pension report.

Illinois' public colleges and universities remain at risk of further credit damage after 21 months of state budget gridlock, Moody's Investors Service said Thursday.

St. Louis received a downgrade from Moody’s Investors Service Tuesday.

Two Illinois-based not-for-profit healthcare systems dropped their merger plans Tuesday following a court ruling that favored the Federal Trade Commission in its efforts to block the union.

Illinois is awash in red ink and it’s expected to spread, according to series of bleak fiscal reports this week that illustrate the toll of a 21-month-old budget stalemate on state finances.

Kansas City has a market stop planned for Wednesday before moving on to voters who are being asked next month to authorize $800 million in general obligation borrowing for infrastructure work over the next two decades.

St. Paul, Minn.’s new investor relations website is making its debut in tandem with a competitive sale of $43 million of general obligation and revenue-backed green bonds set for Wednesday.

Illinois governments could lose up to $400 million in federal interest rate subsidies on their Build America Bonds under prolonged federal budget sequestration, according to a new academic study that looks at the losses as similar programs are eyed to help fund $1 trillion in infrastructure spending

A flurry of filings are due over the next month as Chicago Public Schools seeks a ruling by May 1 on its request to block the distribution of state funding under current formulas.

A changing of the guard is set at the civic arm of a prominent Chicago-based business organization that has worked to influence city and state action on their pension debt.

The University of Missouri’s AA-plus rating carries a stable S&P Global Ratings outlook, up from negative.

The wheels came off the so-called "grand bargain" deal for an Illinois budget Wednesday, which may bode poorly for the state's already low bond ratings.

The Illinois Senate is expected to vote Wednesday on tax hikes that would raise billions in new annual revenue as leaders press forward with their bipartisan "Grand Bargain" legislation aimed at ending the 20-month-old budget standoff.

Minnesota Gov. Mark Dayton and lawmakers got the good news Tuesday in a fresh revenue forecast that adds $250 million to the state’s more than billion dollar surplus.

Chicago Public Schools is warning that without state help or court intervention a $129 million shortfall may force it to end the school year early.

Chicago-based Pugh Jones & Johnson PC has hired veteran municipal attorney Brendan Cournane to round out its public finance team, a move the firm believes will further boost its evolution from a firm in the second seat to a player among lead bond counsel firms.

The prospect of swift legislative action to overhaul the Illinois education funding system appeared more remote Thursday, as the state House’s top Democrat announced of a new task force to come up with a plan.

Chicago-based Daniel A. Noyes & Co. has added three institutional sales professionals to its fixed-income team in Indianapolis, a move the firm believes cements its expansion into municipals.