Yvette Shields

Warning that the state's credit rating hangs in the balance, Illinois Gov. Pat Quinn plans to meet with legislative leaders to take another shot at pension reforms after a reform package collapsed in the 11th hour of the General Assembly session.

Illinois lawmakers adjourned their 2012 session early Friday after approving a major expansion of gambling, $1.6 billion in new borrowing for transportation and transit, and a $33.7 billion fiscal 2013 general fund budget, while political disputes derailed pension reform.

The Metropolitan Pier and Exposition Authority of Illinois will enter the market with about $845 million of new-money and refunding revenue bonds as the agency that manages Chicago's McCormick Place convention center seeks to take advantage of favorable market rates.

With Illinois’ credit rating in the balance, the General Assembly moves into the final day of its spring session Thursday with action still needed on a roughly $34 billion fiscal 2013 budget and pension reforms to help stabilize the state’s finances.

CHICAGO — The Illinois Senate passed legislation Tuesday raising the state's cigarette tax by $1 as part of a $2.7 billion Medicaid reform package aimed at easing the program's strain on state finances.

CHICAGO — As Joplin moved into recovery mode following the devastating tornado that ripped through the southwest Missouri city a year ago, finance director Leslie Jones had the added burden of not just worrying over how best to help the struggling community but also how to manage the financial toll.

Three of the five Wisconsin school districts involved in a risky $200 million investment instrument have won rating upgrades following their recent settlement of litigation that releases the districts of their moral obligation to repay notes tied to the investment scheme.

The Minneapolis City Council signed off on funding plans for a new $975 million Minnesota Viking stadium downtown. The 7-6 vote came one day after a council committee advanced the financing package by the same vote.

Standard & Poor’s downgraded its rating on Springfield’s electric system revenue bonds by two notches to A and warned of further action by assigning a negative outlook.

CHICAGO — The Illinois House approved a bill Friday that raises the cigarette tax by $1 and establishes charity care standards for the state's nonprofit hospitals in order to preserve their property tax exemption.

CHICAGO — The Illinois House approved a bill Friday that raises the cigarette tax by $1 and establishes charity care standards for the state's nonprofit hospitals in order to preserve their property tax exemption.

CHICAGO — In a narrow vote, Minneapolis City Council members gave preliminary approval to a plan to use existing sales and hospitality taxes to fund the city’s $150 million share of a new $975 million stadium for the Minnesota Vikings.

A takeover of bankrupt American Airlines by US Airways could bruise some airport credits, with the risks most acute for their hub facilities, Moody's Investors Service warned in a special commentary released Wednesday.

The St. Louis Rams submitted an expansion plan for its home at the Edward Jones Dome that could cost $500 million to $750 million, according to published reports.

Iowa Gov. Terry Branstad said he would seek legislative support for a gasoline tax increase next year to raise revenue to pay for road and bridge work.

Moody’s Investors Service downgraded Springfield, Ill.’s senior-lien electric revenue bonds two notches and assigned a negative outlook.

CHICAGO — Wisconsin will take competitive bids Tuesday on $212 million of new-money general obligation bonds as it tees up two revenue bond refundings to take advantage of the rise in bond prices.

CHICAGO — The Missouri Legislature wrapped things up on Friday, adjourning after completing work in recent weeks on a $24 billion fiscal 2013 budget that relies in part on some upfront savings in two upcoming bond refundings.

CHICAGO — Kansas City, Mo., Mayor Sly James has dropped plans to seek $500 million of voter-approved general obligation borrowing authority this summer in favor of a sales tax increase and a separate $500 million sewer bond question.

Chicago enters the market with $600 million of new-money and refunding general obligation debt, hoping investors turn a favorable eye on budgetary strides and the administration's initial steps toward repairing pension woes.