Yvette Shields

A Chicago Public Schools-appointed commission on school closures last week offered a preliminary recommendation that no high schools face shuttering.

DePaul University in Chicago won an upgrade from Moody's Investors Service Monday in recognition of its consistent positive operating performance and established student market.

The Illinois RTA accused American Airlines and United Airlines of avoiding $300 million in sales taxes over the last seven years by conducting some business in "sham" offices set up outside of Cook County.

Fitch Ratings put Illinois on notice Friday that its A level general obligation rating faces a downgrade without action over the next six months to solve its pension funding crisis.

Chicago named members of a special advisory panel charged with protecting the public's interest in a possible lease of Midway International Airport.

The Chicago Infrastructure Trust board approved the addition of six advisory members Thursday as it gears up to solicit private market interest in funding energy efficiency upgrades to city facilities and public schools.

The Illinois Finance Authority board advanced new-money and refunding deals planned by Northwestern Memorial Healthcare and the Franciscan Communities Inc. in the coming months.

Illinois lawmakers adjourned a lame-duck session after failing to fix the state's pension crisis, leaving the $95 billion unfunded pension mess to the newly inaugurated Illinois General.

The Minnesota Housing Finance Agency hits the market Wednesday with $75 million of tax-exempt homeownership finance bonds that marks its third use a mortgage backed pass-through structure.

Fitch Ratings has revised its outlook on the junk bond rating of Chesterfield Valley Transportation Development District’s sales tax bonds to positive as the district expects to add new development this year.

Moody's has downgraded Fairfield by two notches to Baa1 from A2 and warned of further negative action as the city struggles with budget deficits.

Investors who hold some of the $4.5 billion of revenue bonds issued for the controversial Prairie State Energy Project can take heart that the project's long-term economics remain favorable for participating public power agencies despite cost overruns, says Moody's Investors Service.

Fired last summer by Blaylock Robert Van LLC, Chicago-based public finance banker Frank Paul has filed a charge of race and age employment discrimination against his former employer with the U.S. Equal Employment Opportunity Commission.

A group of prominent Illinois-based civic groups Thursday banded together to intensify pressure on lawmakers to act now during a special legislative session to overhaul the state's pension system weighed down by $95 billion in unfunded obligations.

The funded ratios of 11 pension funds that cover Chicago, Cook County and statewide municipal workers in Illinois deteriorated in 2011 and they collectively now carry $37 billion of unfunded obligations, according to a new report.

Chicago has reached a settlement with St. John United Church of Christ that includes a $1.3 million payment for church land that had housed a cemetery moved to make way for a new runway at O'Hare.

Columbus, Ohio, Auditor Hugh J. Dorrian intends to ask for authority to refund up to $475 million of Build America Bonds and recovery zone economic development bonds if federal subsidies are cut under sequestration or in a deal to avoid the fiscal cliff.

The Illinois State Toll Authority board has approved a $1.5 billion budget for the coming year along with $1 billion in toll-backed bonds in the agency's first borrowing to support its 15-year $12 billion capital program.

Women in Public Finance will honor three professionals next month in Chicago at the national organization's 7th annual founders' awards.

Kansas City, Mo., plans to launch construction of a streetcar system next year using a bond financing plan designed to protect the city's general budget from project shortfalls.