Yvette Shields

The Illinois Finance Authority signed off on $800 million of borrowing plans by several Illinois-based not-for-profit health systems and a Chicago art museum joining the parade of issuers to hit the market this quarter with both new-money and refunding paper.

Illinois' arrangement to directly place $600 million of existing floating-rate debt with four banks received a positive review from Moody's Investors Service though its Baa2 rating and negative outlook are unchanged.

Cook County’s proposed 2017 $4.4 billion operating budget relies on a tax on soda and other sugary beverages to help erase red ink while protecting spending on health and public safety services.

Illinois’ yield penalties widened Thursday as the nation’s lowest rated state sold $1.3 billion of general obligation refunding bonds against a tide of negative fiscal and market headwinds.

Chicago's tax-increment financing program is in the spotlight after the city said it would release a bigger-than-planned chunk of surplus TIF revenues to help Chicago Public Schools pay for a new teachers' contract.

Illinois will remarket floating-rate paper in a direct placement set for Nov. 7, resolving a potential strain that expiring letters of credit posed for its already stressed balance sheet.

Chicago Mayor Rahm Emanuel unveiled his 2017 budget proposal Tuesday using the occasion to promote what he portrayed as the city’s fiscal turnaround.

Junk-rated Chicago Public Schools averted a teachers’ strike after striking a tentative four-year deal with union leaders during negotiations that came down to the wire.

Chicago received an outlook boost from S&P Global Ratings, to stable from negative.

Holders of $113 million of defaulted bonds issued for a Branson, Missouri Airport will get an update on airport operations and an amended forbearance agreement on Oct. 13.

Illinois may refund of some of its $1.5 billion in 2010 tobacco settlement bonds.

Milwaukee will take competitive bids Thursday on $180 million of revenue anticipation notes to smooth out the cash flow needs of Milwaukee Public Schools.

St. Louis was downgraded ahead of its $25 million general obligation sale planned for later this month.

Chicago penalized Wells Fargo on two fronts Wednesday over its phony accounts scandal.

Wisconsin takes competitive bids Wednesday on $325 million of new-money general obligation bonds with its shortest call feature to date at seven-and-a-half years.

Fallout from the Wells Fargo phony accounts scandal has reached Midwest bond borrowers, with Illinois announcing bans on bond and investment work and the Chicago City Council set to consider a moratorium on any bond-related business.

Already the lowest rated state, Illinois suffered a new downgrade as S&P Global Ratings dropped it to BBB ahead of $1.8 billion in bond sales.

Wells Fargo would lose out on financial business with the city of Chicago for two years under an ordinance proposed Friday by the City Council’s powerful Finance Committee chairman in the aftermath of the firm’s phony accounts scandal.

Illinois has until the end of January to make headway with its budget woes before Fitch Ratings is prepared to sock it with a downgrade.

Chicago-based financial advisor Melanie Shaker is returning to her rating agency roots, joining S&P Global Ratings on the commercial side.