Yvette Shields

While the system took a hit during the COVID-19 pandemic, total traffic hit 94% of pre-pandemic levels in 2022. Traffic for the first two months of 2023 was 99% of levels in the same period of 2019.

"We know this cliff is coming," said state Sen. Ram Villivalam, head of the state Senate transportation committee. "What structural reforms are we looking at implementing? What innovation can we pursue?"

Chicago outgoing mayor offered a parting shot against pending state legislation that stands to add to city pension costs, but sponsors say the fix was promised and is needed to avoid violating federal rules.

Illinois' $2.5 billion transaction took center stage Wednesday as the state's first GOs to carry an A-level rating since 2016 still offers a healthy yield kick over the A and BBB benchmarks.

Chicago's fiscal forecast has brightened and near-term surpluses should go to cover supplemental pension contributions and into reserves, Mayor Lori Lightfoot said as she prepares to hand the reins of city government to Mayor-elect Brandon Johnson

Illinois' $2.45 billion GO sale should attract a wider investor audience with the higher ratings as the state seeks to raise new money for capital projects, fund ongoing pension buyout programs, and refund some debt for present value savings.

Several Midwest hospital mergers that are in the works will contribute to the 2023 numbers while one announced in 2022 just closed.

The upgrades add to the city's ratings upswing across credits that Mayor-elect Brandon Johnson will inherit from Mayor Lori Lightfoot.

Illinois' public universities continue to reap ratings and aid benefits from the state's positive rating trajectory and healthy near-term revenue landscape.

The announcement came as a global settlement agreement that resolves Preston Hollow Capital LLC's litigation against Miller and Nuveen was disclosed.

Detroit's return to investment grade is within reach if it stays on track after Moody's put a positive outlook on the Ba1 rating following an upgrade from Ba2.

Chicago voters picked Brandon Johnson — a Cook County Board Commissioner, former teacher, and Chicago Teachers' Union organizer — as their next mayor.

The acquisition closed Friday and all nine employees, who provide municipal and healthcare advisory services and treasury consulting services, joined PFM.

The struggling Chicago suburb is waiting on audited financial statements that, once in hand, will pave the way for an exchange offer to its GO bondholders.

Headwinds remain, despite the S&P upgrade, as the district warns of a $600 million gap once federal COVID-19 aid runs out with its governance poised to change.

Fitch Ratings affirmed Illinois GO bonds at BBB-plus and lifted the rating outlook as the state prepares to sell up to $2.5 billion of general obligation debt.

Based on an opinion from the attorney general, the cut isn't permanent, drawing criticism from the legislature's Republican minority.

Iowa Wesleyan University's pitch to the state government for federal COVID-19 relief funds fell short, and the school plans to close its doors.

The publicly offered tax-exempt debt product is new for the firm and the collateralized debt obligation structure may be one of the first for the market since the 2008 financial crisis.

The state, through its established conduit issuer, is eyeing new financing products to promote climate goals as its pursues $1.2 billion of federal funds.