Yvette Shields

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.

High yields and a statutory lien on state aid are what the junk-rated Chicago Public Schools offer investors willing to overlook its precarious cash ledger, bleak budget outlook, and downward credit spiral.

Standard & Poor's socked the already junk-rated Chicago Board of Education with a two-notch downgrade Friday as the fiscally embattled district prepares to come to market later this month.

Michigan Gov. Rick Snyder is requesting a federal emergency declaration and supporting a shift of more executive powers back to Flint Mayor Karen Weaver as the city grapples with a water crisis that could cost more than $1 billion to fix.

The Detroit Public Schools could see a fiscal fallout if organized “sick-outs” by some teachers are prolonged, Moody’s Investors Service warns in a new report.

Illinois paid higher yield penalties than it did before its budget fell into gridlock when it competitively priced a $480 million general obligation issue.

The Chicago City Council signed off on a $2.45 billion borrowing package that was temporarily trimmed by $800 million due to council members’ questions over capital projects and the administration’s swap termination plans.

Pricing results on Chicago’s $500 million general obligation refunding and restructuring bond pricing Monday showed narrower spread penalties for the first such deal from the city since a large property tax increase.

The Chicago City Council votes as soon as Wednesday on more than $2.6 billion of bonding after a day-long finance hearing in which aldermen forced Mayor Rahm Emanuel's administration to downsize a GO bond request.

Weaker results in the current fiscal year prompted one rating agency to shift its outlook on Michigan-based Trinity Health Credit Group's high-grade rating to negative ahead of its sale of $568 million of new-money and refunding bonds.

The lack of supply to meet demand – especially for yield – is seen as benefitting Chicago, Chicago Public Schools, and Illinois when all three fiscally distressed credits land in the bond market during the next two weeks.

Standard & Poor’s bumped Memorial Group Inc. out of junk territory thanks to support provided by the stronger rated BJC Healthcare system.

Illinois’ not-for-profit hospitals are facing new uncertainty over their local tax exemptions and charity care obligations after an appellate court voided a 2012 law governing their community benefit requirements.

Chicago’s public finance community was stunned to learn of the sudden death over the holidays of veteran municipal market professional Adrienne J. Archia. She was 53.

Illinois political dysfunction that’s driven a more than six-month-old fiscal 2016 budget stalemate won’t alone drive a downgrade, Standard & Poor’s says in a new report.

Chicago will offer its long planned $500 million general obligation refunding next week with plans for another $3.6 billion of new money, refunding, and restructuring GO and revenue-backed borrowing in its 2016 pipeline.