Yvette Shields

Three of Illinois' public universities were downgraded, one to junk, as impacts from the state's almost eight-month overdue budget continue to ripple.

The Missouri House intends to restore the $12 million appropriation – recently stripped from the state’s pending fiscal 2017 budget -- that goes to repay its share of debt issued for the St. Louis Rams’ stadium.

The University of Chicago took a hit from Standard & Poor’s, which downgraded the school to AA-minus from AA amid balance-sheet pressure and planned deficits.

Moberly, Missouri, which fell to junk-bond status after reneging on an appropriation pledge, inched closer to an investment grade with a two-notch upgrade from Standard & Poor's to BB-minus.

The Midwest lagged the national uptick in issuance last year as the conservative region did take advantage of low interest rates to refund debt but held tight the purse strings on new money borrowing.

The spat between Illinois Gov. Bruce Rauner and the Chicago Public Schools could threaten the school district's authority to borrow, if the governor gets his way.

St. Louis and Missouri leaders say they won’t waver in paying off Edward Jones Dome bonds, though the stadium’s National Football League’s tenant has decamped for California and state lawmakers may balk.

The Illinois Board of Education has opened an investigation of Chicago school finances, the latest sign tensions between Chicago Public Schools and Gov. Bruce Rauner.

Gonzalez Saggio & Harlan LLP, a national minority-owned law firm based in Milwaukee with an 11-strong public finance team, will shut down at the end of this month.

Illinois Gov. Bruce Rauner introduced his fiscal 2017 spending plan by asking the legislature's Democratic majorities to support at least some of his policy proposals or give him sweeping powers to balance the state's books.

Chicago-based investment bank William Blair is moving into Ohio by hiring of a team of veteran public finance bankers from Fifth Third Securities.

Legislation to fund Illinois' community college payments and student financial aid grants was delivered to Gov. Bruce Rauner's desk Tuesday.

Continuing turmoil at the College of DuPage, Ill., cost the two-year school one of its triple-A ratings as Standard & Poor's cut it two notches to AA.

Illinois elected leaders have plenty of advice about how to solve their budget problems, with no sign that they are going to take any of it.

The U.S. Justice Department filed suit against Ferguson, Mo., after the city rejected portions of a negotiated consent decree stemming from a fatal police shooting, adding more financial uncertainty for the city’s already junk-rated credit.

Detroit’s old water and sewer debt is now investment-grade across the board for the first time since the city left bankruptcy.

The head of the agency that accredits Illinois' state universities issued a warning to state leaders as the schools struggle in the absence of state funding because of a continued budget stalemate.

Morgan Keegan & Co. Inc. will pay $850,000 to settle securities fraud charges brought by Missouri Secretary of State Jason Kander over the firm's underwriting of $39 million of bonds issued for a failed artificial sweetener plant.

Minnesota is offering $350 million of its high-grade state revolving paper in a competitive sale set for Tuesday.

The head of Chicago Public Schools said this week’s deal may mark the end of the troubled district’s market access until it makes significant financial changes.