Yvette Shields

Chicago must compensate the private operators of four downtown city- and park district-owned parking garages for $58 million in lost revenue and interest stemming from the city's approval of a competing parking facility.

An Illinois judge on Tuesday dismissed litigation challenging a state overhaul of retiree healthcare benefits after concluding that strict protections afforded to pension benefits in the state constitution don't apply.

Minnesota is banking on electronic bingo games to bolster its pot of expanded gambling revenues needed to repay its $348 million share of borrowing for the new $900 million Minnesota Vikings professional football stadium.

Moody's Investors Service downgraded four of Illinois' public universities and left intact the ratings of four others in a review of $2.6 billion of rated debt sparked by late last year by the state's deteriorating credit.

Iowa Gov. Terry Branstad last week defended state financial incentives and bonding assistance that helped lure an Egyptian-owned fertilizer project in response to questions being raised over contract fraud charges leveled against the company by the federal government.

Standard & Poor's has raised Rush University Medical Center Obligated Group's rating by one notch to A in recognition of the system's new patient tower and good operating performance.

Chicago-based Roosevelt University's was downgraded by Fitch Ratings last week and faces further deterioration in the assignment of a negative outlook as the school struggles with enrollment challenges.

The University of Chicago plans to sell up to $400 million of debt through the Illinois Finance Authority to refund existing bonds and finance an ongoing capital program that includes new and renovated facilities.

Chicago narrowed the field of potential bidders on a Midway Airport lease down to six from among 16 responses it received during its request for qualifications process.

Chicago's motor fuel tax credit was downgraded three nothes by Moody's Investors Service as the agency notched the credit with Illinois bond rating.

Minnesota Gov. Mark Dayton on Thursday offered a revised two-year budget proposal that drops changes to broaden the state's sales tax, but leaves intact a proposed income tax increase.

After returning its balance sheet to the black, the Illinois International Port District plans to bolster its role in economic development and job creation by turning to private managers to raise the needed capital.

Six weeks after pulling its last bond sale, Illinois plans a full court press with investors and will drop a bidding feature that had dampened the interest of some broker-dealers as it prepares to competitively sell $800 million of debt.

The Chicago City Council will take up ordinances as soon as Wednesday authorizing up to $1.65 billion of O'Hare International Airport debt that will raise new money for the airport's $8 billion expansion.

Moody's Investors Service lowered Rhinelander, Wis.'s rating by three notches to A3 from Aa3 due to ongoing strains to its balance sheet.

Le Center, Minn.'s rating sunk further into junk bond territory following a downgrade Monday by Moody's Investors Service over is fiscal woes.

Rank and file Chicago Police Sergeants Association members rejected a proposed contract that included pension reforms billed by Mayor Rahm Emanuel as a potential framework to help solve the city's pension crisis.

Illinois has settled securities fraud charges with the Securities and Exchange Commission for misleading investors about its approach to funding its pension obligations.

With its credit and reputation damaged, Lombard, Ill. plans to shift gears and become a buyer of municipal securities to help finance capital projects.

Kansas City, Mo. officials hope to quickly resolve a lawsuit filed by several business owners challenging the legality of the funding mechanism for the city's proposed $102 million downtown streetcar project.