Yvette Shields

Pittsburgh-based PNC Capital Markets LLC hired public finance banker Kerry Rudy in Chicago to lead its national healthcare sector and is bolstering its New York team with the addition of Lawrence Stephens to lead coverage of the city.

The Chicago Board of Education credit suffered its latest blow Thursday when Kroll Bond Rating Agency dropped its rating two levels to BBB-minus, allowing the district to retain its sole investment grade level rating.

The junk-rated Chicago Board of Education unanimously signed off on a $6.4 billion budget panned by rating agencies for rolling over debt and gambling on uncertain state support.

The Illinois Metropolitan Pier and Exposition Authority plans to enter the market after revamping its hotel financing plan following rating downgrades triggered by the state's budget impasse.

A Chapter 9 filing by the Chicago Public Schools could push the distressed district into a financial "death spiral," the district's former chief executive officer Paul Vallas said Tuesday.

The Chicago Park District heads to market Thursday with $88 million of debt that market participants say should offer up some alluring yield premiums due to the troubled Chicago name.

Fitch Ratings removed Wayne County, Michigan's speculative grade rating of B from its Rating Watch Negative in recognition of the city's improved fiscal prospects under a proposed state consent agreement.

Chicago Mayor Rahm Emanuel will unveil his proposed 2016 budget Sept. 22, giving market participants a few days to digest his plan for stabilizing city finances before hosting investors on Sept. 25.

Investment banks interested in working on Wisconsin's financing for a new $500 million Milwaukee Bucks professional basketball arena have until Sept. 1 to submit their qualifications, as officials want to get the deal done by the end of the year.

Missouri will begin tapping about $300 million in borrowing authority when its sells $60 million of high-grade special obligation bonds Tuesday for renovations to the state capitol and other state and university building projects.

Detroit's finance director had no complaints Thursday about the steep premium the city paid to access the municipal market for the first time since exiting Chapter 9.

Illinois Gov. Bruce Rauner signed legislation Thursday that allows the Metropolitan Pier and Exposition Authority to make its debt payments even without a state budget in place.

Michigan is putting the word out to struggling municipalities that a $5 million grant program is available to help fund special projects that could help free up tax revenue for key services.

Moody’s Investors Service stripped the limited tax general obligation bonds of the Cook County Community School District 147 in Dixmoor, Illinois of their investment grade rating.

The Missouri Development Finance Board signed off on tax credit allocations to support the state-backed financing plan for a new $1 billion St. Louis Rams professional football stadium.

Detroit will price its first post-bankruptcy borrowing Wednesday after a full-court press on investors that emphasized state backstops that won the deal an A rating.

Illinois Gov. Bruce Rauner’s latest offer to shore up the finances of Chicago Public Schools fell flat with Democratic legislative leaders who don’t like the conditions attached.

Moody’s Investors Service downgraded St. Louis one notch.

Moody's Investors Service has revised its outlook on Wisconsin-based Mercy Alliance's A2 rating to negative from stable due to execution risks with the system's January merger with Rockford Health System.

Moody’s Investors Service labeled Wayne County, Mich.’s proposed consent agreement with the state a credit positive as efforts advance to deal with the county’s fiscal emergency.