Yvette Shields

Chicago Public Schools’ chief financial officer Barbara Byrd-Bennett has resigned, a month and a half after it was disclosed that federal authorities were probing her role in a no-bid contract.

Chicago heads back into the market Wednesday to convert $112 million of floating-rate sales tax-backed bonds to a fixed rate, further chipping away at bank credit risks that posed a $2.2 billion liquidity risk.

With Illinois' credit rating hanging in the balance, the state's spring legislative session ended in gridlock with passage of a $36 billion budget labeled by Gov. Bruce Rauner as "phony."

Moody’s Investors Service has downgraded Kendall County Forest Preserve District in Illinois by one level to A2 and warned of further action by assigning a negative outlook as the district’s balance sheet struggles.

Six Missouri lawmakers have filed a complaint aimed at preventing Gov. Jay Nixon from tapping revenues that go to repay debt on the St. Louis Rams’ stadium for a new professional football stadium without legislative or voter support.

St. Louis voters will decide in an August ballot measure whether the city should issue $180 million of debt to fund infrastructure improvements.

After meeting with legislative leaders Friday, Illinois’ rookie GOP governor voiced optimism that an impasse over the fiscal 2016 budget will be bridged, though no deal was expected before Sunday’s scheduled adjournment.

Chicago took a beating but got its deal done as it offered its first general obligation bonds in more than a year Wednesday, with its fall to a junk-bond rating fresh on investors’ minds.

Standard & Poor's has revised its outlook to positive from stable on Illinois-based Blessing Hospital's A-minus rating in recognition its solid operations.

Moody's Investors Service has upgraded Kenosha Unified School District #1 in Wisconsin to Aa3 from A1 due to the district's strengthened fiscal position.

Moody's Investors Service has upgraded Polk County, Minn.'s rating to Aa2 from Aa3 thanks to its healthy reserves and growing tax base.

Acrimony between Ill. Gov. Bruce Rauner and the General Assembly’s Democratic majority over a fiscal 2016 budget is building as both sides posture ahead of the May 31 adjournment date

Chicago’s revamp of its $800 million floating-rate debt restructuring helps its position as it heads into the market with a battered credit, say several buyside participants.

With Illinois lawmakers mired in a budget stalemate as they head into the homestretch of their spring session, Illinois Gov. Bruce Rauner is warning of a lengthy special session.

Chicago is trying to strike an agreement with its police and fire unions on changes to their pension funding formulas, the city reported in newly published bond offering statements.

Chicago will fold its conversion to fixed-rate of $800 million in floating-rate general obligation paper into one transaction pricing Wednesday with Bank of America Merrill Lynch running the books.

Moody's Investors Service's defense of its Chicago downgrade to junk took center stage at a long-planned discussion of city finances hosted by the City Club of Chicago.

Chicago's decision to delay and rejigger $800 million of borrowing stems from the city's desire for more control over pricing scales following the city's downgrade to junk, sources said.

Nearly two weeks after the Illinois Supreme Court struck down the state’s 2013 pension overhaul, state lawmakers, local government leaders, and legal experts struggle for an alternative the court would accept.

All three rating agencies affirmed Milwaukee ahead of its sale of last week of $187 million of general obligation bonds and notes and $125 million of revenue anticipation notes.