Yvette Shields

Standard & Poor’s stripped the Chicago Public Schools of its investment grade rating with a three notch downgrade saying a proposed budget does little to solve its structural or liquidity woes.

The Illinois Finance Authority advanced plans for nearly $1 billion in borrowing on behalf of not-for-profit schools and hospitals led by the University of Chicago.

The Illinois Supreme Court will consider Chicago's appeal of a lower court ruling voiding its 2014 pension reform legislation under an expedited timetable leading to oral arguments this November.

A group of Illinois House Democrats proposed legislation Thursday to end the state’s practice of subsidizing local districts’ teacher pension contributions — a move that could help Chicago Public Schools.

The Illinois House unanimously passed a bill that authorizes $5.2 billion in federal funds spending and allows the Metropolitan Pier and Exposition Authority to make debt payments, after Democrats abandoned efforts to tack general fund spending onto the measure.

Wisconsin took the first steps Wednesday toward putting together a team for about $200 million of borrowing planned for a new Milwaukee Bucks arena as Gov. Scott Walker signed into law the project’s public financing package.

Moody’s Investors Service labeled the Metropolitan Pier and Exposition Authority's inability to make its monthly debt service deposit a “credit negative” for Illinois’ A3 rating.

Standard & Poor's credit view of Illinois' flagship public university has dimmed due to uncertainty over when the state will solve its fiscal 2016 budget impasse and how the school will fare in a final plan.

Wisconsin’s new capital finance director David Erdman is a familiar name to the public finance community that does business with the state.

Chicago Public Schools released a proposed $6.4 billion fiscal 2016 budget that pockets more than $300 million from one-shots and gambles on the state coming through with nearly $500 million in pension.

Standard & Poor's, in a special comment, said it wants to see how serious Chicago is about fixing its structural budget deficit.

Illinois Gov. Bruce Rauner is escalating pressure on Chicago Mayor Rahm Emanuel to help pass his agenda by offering up a sweeping fiscal fix for the Chicago Public Schools' pension woes.

Chicago's Midway International Airport is in line for $250 million in upgrades under a plan announced Thursday by Mayor Rahm Emanuel.

Standard & Poor's outlook on the University of Minnesota Regents' rating has dimmed due to pressures posed by the state flagship school's increasing debt load.

Minnesota's flush coffers and structural budget balance led Standard & Poor's to revise its outlook on the state's AA-plus rating to positive from stable.

The U.S. Supreme Court has granted Illinois Attorney General Lisa Madigan's request for more time to consider whether to appeal the state's high court voiding a 2013 state pension system overhaul.

St. Louis voters Tuesday rejected a $180 million bond measure that the city had promoted as needed to help get deferred infrastructure work completed.

The Metropolitan Pier and Exposition Authority's triple-A Standard & Poor's rating became a victim of the Illinois budget impasse, getting a seven-notch downgrade.

St. Louis is free to spend tax money to fund a new football stadium, according to a St. Louis Circuit Court ruling overturning a city ordinance aimed at requiring such support go to a public vote.

Chicago's rising pension and debt service tabs, and a persistent, albeit shrinking, operating deficit, pose a long-term strain to the city's balance sheet, the city says in its annual financial overview.