Yvette Shields

The junk-rated district that is managing the COVID-19 pandemic's fiscal impact with the help of federal relief trimmed spread penalties as investors were drawn to the extra yield offered for the junk paper.

State tax collections are faring better than predicted early in the COVID-19 pandemic but uncertainties abound, says a University of Illinois task force fiscal report.

Gov. Tim Walz's proposed tax hikes to eliminate a budget gap and produce new revenue for his economic initiatives drew GOP backlash.

The Illinois legislature passed a pension benefit enhancement for a group of Chicago firefighters. If Gov. J.B. Pritzker signs it, local taxpayers will pay up.

Federal COVID-19 relief aid cushions the district's balance sheet but labor, state budget, and pension woes remain.

ISFA board member Leslie Darling will take over the role of board chair.

S&P Global Ratings raised Detroit's outlook to stable from negative on a BB-minus rating; Moody's affirmed the city at Ba3 with a positive outlook.

A federal judge agreed with the SEC that the Chicago suburb must prove the status of reforms agreed to in settling allegations the city misused bond proceeds.

State tax revenues remain down compared to pre-coronavirus figures but estimates in a new forecast are higher than its previous official forecast in August.

Steven Kantor, a regional managing director based in New York, was among those cut, sources said.

Former Michigan Gov. Rick Snyder and two former Flint emergency managers entered not guilty pleas Thursday on criminal charges tied to their alleged roles in the Flint water contamination crisis

Illinois lawmakers chose a new speaker this week after a lame-duck session that could add to Chicago's and the state's budget strains.

Former state Treasurer Jay Rising will take the helm of Detroit's finances next week, replacing Dave Massaron.

The city has suffered tax and economic blows from COVID-19 but has weathered the impacts with adjustments to its roughly $1 billion budget.

CommonSpirt would shed some hospitals — mostly smaller critical access ones — under a letter of intent with the Minnesota-based system.

Illinois is asking state justices to resolve efforts to challenge $14 billion of outstanding general obligation bonds.

Budget woes await the state's lawmakers as they convene but Illinois' bonds are benefitting from a Blue Wave, vaccine distribution, and hunger for higher yielding credits.

Park Place at Elmhurst would restructure and redeem $141 million of bonds issued to exit its 2016 Chapter 11 under a plan pending before a bankruptcy court.

The default-ridden Chicago suburb says the court's action to give it back control of its water operation could aid its 2021 objective of restructuring debt.

Moody's says the coronvirus' economic impact adds to fiscal pressures on several of the state's cities dependent on oil and gas revenue