Yvette Shields

Illinois Gov. Pat Quinn's proposed $62.4 billion fiscal 2014 operating budget won the endorsement of a local government watchdog group, tempered by alarm over the state's mountain of unpaid bills and pension crisis.

Moody's Investors Service lowered Ascension Health Alliance's rating one level to Aa2 ahead of the nation's largest not-for-profit healthcare system's upcoming sale of $980 billion of refunding bonds.

Illinois' $300 million sale of high-grade taxable, sales-tax backed paper drew 11 bids all within a tight 19 basis point range, state officials said Thursday after the sale.

The Illinois Senate approved a pension reform package Thursday after Democrats argued it stands a better chance at surviving a legal challenge than a rival House bill.

Wisconsin expects to collect an additional $575 million in tax revenue over three years under new projections that fueled calls for tax relief and more spending on education.

Morgan Keegan & Co. Inc. denies any wrongdoing and attacks as overtly biased Missouri Secretary of State Jason Kander's petition alleging securities fraud in its role as underwriter of Moberly, Missouri's $39 million of defaulted bonds.

Illinois expects to close out fiscal 2013 with $1.3 billion more in income tax revenue than previously projected, offering investors a rare bit of positive state financial news just ahead of a $300 million sales tax backed bond sale Thursday.

With labor union backing, the Illinois Senate will vote Thursday on a pension reform package setting the stage for a compromise with the House over a dueling plan or an impasse.

A judge ruled last week that several Kansas City, Mo. business owners behind a lawsuit challenging the legality of the funding mechanism for the city's proposed $102 million, two-mile downtown streetcar line don’t have to file a bond to proceed with their appeal.

Fitch Ratings and Moody's Investors Service recently revised their outlooks on Methodist Medical Center of Illinois' rating to positive from stable in recognition of its improved operating performance.

The University of Chicago will offer up about $350 million of taxable and tax-exempt paper this week as it wraps up borrowing for the final phases of a $1.2 billion capital program and gears up for a new fundraising campaign.

For buyers, the allure of attractive yields, diversification, and liquidity drowned out the project risks tied to investing in the Iowa Fertilizer Co.'s $1.2 billion of junk-bond paper.

Making a major leap toward addressing the state's pension crisis, the Illinois House passed a wide ranging reform package Thursday aimed at slashing the unfunded liabilities and reining in rising annual payments that are straining the state's fiscal foundation.

The Illinois Senate took another stab at a major expansion of gambling on Wednesday, approving a bill that supporters say could pump as much as $1.2 billion of one-time money into state coffers and $250 million annually.

Illinois will take competitive bids next week on $300 million of taxable sales-tax backed bonds, with another $1.6 billion in new-money and refunding debt in the works.

A tax overhaul in Minnesota -- with infrastructure funding for the Mayo Clinic's plan to makeover its home city and a likely income tax increase to erase a deficit and generate more funding for schools -- is headed to a conference committee.

The University of Wisconsin has come under fire after the recent disclosure that it holds $648 million in reserves lawmakers had not previously known about.

Monsanto Co., the agricultural biotechnology corporation, last week announced plans for a $400 million expansion of its research facility in Chesterfield just outside St. Louis.

Moody's Investors Service has downgraded the city of Hayfield's general obligation rating by three notches to the lowest investment grade level.

Chicago settled a legal dispute with the private operators of its parking meter system over lost revenue in an agreement that modifies the much maligned lease and could save the city as much as $1 billion over the next seven decades.