Yvette Shields

Battered by negative headlines about its solvency, labor troubles, and a state takeover threat, the Chicago Board of Education returned to the market Wednesday after a one-week delay to price a scaled-down deal that offered a hefty high yield of 8.50%.

The Chicago school district, bringing $875 million to market Wednesday after a week's delay, is amplifying its support for the idea that the bonds' pledged tax revenue stream could survive a Chapter 9 bankruptcy.

Chicago Public Schools said it will price its delayed $875 million bond sale Wednesday, amid heightened acrimony with its teachers union and a renewed state takeover threat.

Illinois is on pace to close out the fiscal year with a $10 billion to $12 billion backlog of unpaid bills as the state moves into its eighth month without a budget, state comptroller Leslie Geissler Munger said.

The junk-rated Chicago Board of Education plans to price its delayed deal as soon as this week amid headlines that include a fresh downgrade and possible progress on a new teachers' contract.

Fiscal strains on Michigan could deepen as officials work to solve the Flint water contamination crisis, Standard & Poor’s said in a new report.

Chicago and the major airlines that operate at O’Hare International Airport have agreed to a $1.3 billion plan that paves the way for construction of a new runway that would complete the long-planned parallel reconfiguration of runways.

Veteran Chicago-based bond attorney Thomas Smith has joined the local office of Greenberg Traurig LLP.

The Art Institute of Chicago received two good pieces of news when Moody’s Investors Service revised its outlook to positive and it announced its largest cash gift ever.

The Chicago Public Schools' last-minute pricing delay puts more of an onus on the district to demonstrate its ability to access the bond market.

Chicago Public Schools yanked a $875 million general obligation bond sale from Wednesday’s negotiated offerings, moving it to the day-to-day calendar; district officials said the move will give investors more time to digest the deal, but some observers said it illustrates the district’s deep distress.

Illinois’ rising bill backlog if left unchecked could pressure the state’s already battered credit rating, Moody’s Investors Service warns in a new commentary.

Kansas City, Missouri heads into the market with a nearly $200 million new money and refunding sanitary- sewer system revenue deal Wednesday as the city chips away at needed infrastructure upgrades and its $4.5 billion overflow control program.

The only intermodal freight facility to ever take advantage of a special 11-year-old federal private activity bond program is back for a third round of financing.

Additional executive powers are being restored to Flint, Mich.'s mayor in a move backed by Gov. Rick Snyder to help the city deal with its water contamination crisis.

A Republican plan to put Chicago Public Schools on a possible path toward bankruptcy was declared dead on arrival, but resonated with the municipal bond market ahead of a deal Wednesday.

The Michigan Senate is expected next week to take up $28 million in emergency funding proposed by Gov. Rick Snyder to help Flint address its water contamination crisis.

The political bickering that’s driven the almost seven-month-old budget impasse in Illinois spilled into the public pension arena.

The headwinds for Chicago Public Schools intensified on Wednesday as one of its ratings sank deeper into junk territory and the state's minority Republican leaders mounted a takeover effort backed by Gov. Bruce Rauner.

President Obama has signed an emergency declaration requested by Michigan Gov. Rick Snyder in the wake of a water contamination crisis in Flint.