Yvette Shields

Cook County, Ill. faces a projected $152 million shortfall next year, according to the preliminary 2014 budget released Thursday by Cook County Board President Toni Preckwinkle.

Chicago officials blamed state inaction on pension reform for Fitch Ratings' move to put the city's AA-minus general obligation and sales tax ratings on negative watch.

An Illinois committee tasked with crafting a pension overhaul holds its first public meeting, while the Gov. Pat Quinn says the state's $1.3 billion GO sales demonstrates the price of its bad credit ratings.

Illinois' weakened fiscal condition and battered ratings translate in steep borrowing penalties but won't lead to a default any time soon, a new academic research paper asserts.

Illinois Gov. Pat Quinn and Indiana Gov. Mike Pence opened a forum aimed at luring private contractor and investment interest in a proposed $1.3 billion expressway linking the two states.

A pension reform plan endorsed by leaders of Illinois' public universities and touted as a potential model for an overhaul of the state's other funds received a hearing last week.

Illinois Comptroller Judy Baar Topinka has asked the state Attorney General to investigate Washington Park due to its failure to submit annual financial reports for the last seven years.

Standard & Poor's issued a AA-plus rating to St. Louis Metro transit system's new, combined sales tax lien ahead of a planned $375 million refunding.

The Illinois debt manager and finance team have met with more than 100 investors over the last week ahead of a $1.3 billion general obligation sale into a jittery market.

The Wisconsin Legislature Friday sent Gov. Scott Walker a two-year, $68 billion budget that cuts income taxes by $650 million and authorizes $1.8 billion in new bonding.

Illinois' overall fiscal health reflected in the value of its net assets worsened in fiscal 2012 by $3 billion, pushing it to a negative $46.6 billion, although the pace of deterioration slowed.

Wisconsin's capital finance office is accepting qualifications through next week from underwriters interested in participating on negotiated sales over the next two years.

Illinois Gov. Pat Quinn wants legislative action on a pension reform bill by July 9, giving the conference committee set up Wednesday three weeks to fashion a package.

Illinois lawmakers convene a special session on pension reform Wednesday but the only action expected is the formation of a special conference committee to fashion a compromise plan.

Monticello, Minn., which defaulted on $26.4 million of unrated telecom revenue bonds, would pay bondholders $5.75 million and free up escrowed funds under a proposed settlement.

St. Louis Metro transit enters the market next week with a $375 million issue under a long-planned restructuring and refunding that will introduce a new debt lien supported by revenues from a 2010 voter-approved sales tax.

Moody's Investors Service has placed Meriter Hospital's A1 rating under review for downgrade as the system struggles with 2012 operating losses due to the Meriter Health Services' health insurance plan.

The Court of Appeals in Kansas City will hear oral arguments next month as several Kansas City, Mo., business owners try to keep alive their lawsuit challenging the legality of the funding mechanism for the city's downtown streetcar line.

Moody's Investors Service pushed the struggling Proctor Hospital's rating further down into junk bond territory, lowering the Illinois hospital three levels and warning of further deterioration.

After a failed stab at asking state lawmakers to extend a teacher pension payment holiday, Chicago Public Schools announced a new round of cuts Friday as the district carves away at a $1 billion deficit in its next budget.