Yvette Shields

The $5.35 billion transaction being recognized by The Bond Buyer as Midwest Deal of the Year met a series of state goals.

Deep bondholder losses are expected when the bonds issued for five Better Housing Foundation portfolios in and around Chicago emerge from Chapter 11.

Moody's downgraded Wisconsin's largest city by one notch due to budgetary pressures.

In retirement, he's launched a consulting firm that has several irons in the fire, including continued work on research products for Loop.

Forecasters now expect a $641 million surplus this year and a much smaller than previously projected $1.3 billion gap in the next two-year budget cycle.

Fitch says the bond-financed settlement provides certainty and leaves the state's reserves intact, which puts the state on sound footing to manage the uncertainties with the coronavirus.

Modest revenue growth is projected over the course of the biennium that begins July 1, but “unprecedented volatility” because of the pandemic remains a concern.

Illinois will borrow $2 billion through the Federal Reserve's Municipal Liquidity Facility to help manage its 2021 budget gap. The state previously borrowed $1.2 billion from the MLF for its fiscal 2020 pandemic hole.

The budget cleared the Chicago City Council Tuesday. Rating agency and buy side reviews on the final plan will come next.

The budget closes a $400 million general fund and health care system gap and rising structural costs without a tax hike

Without more federal relief, the Illinois Regional Transportation Authority's service boards warn of devastating service cuts, layoffs and fare hikes.

The Michigan Strategic Fund would issue bonds to fund a loan that would go to cover claims stemming from contamination of the city's water system.

The Finance Committee signed off on new money, refunding, and scoop-and-toss debt restructuring deals and finance teams to assemble and sell the bonds.

The state's backlog of unpaid bills will grow to $35 billion by 2026 if it doesn't make any structural budget fixes, according to a new forecast.

Chicago Mayor Lori Lightfoot is promoting a $950 million restructuring that adds three years to the city's debt service schedule as present value neutral when factoring in savings from a more traditional $750 million refunding.

Mayor Lori Lightfoot's budget plan strikes the right balance between structural and one-time measures amid the coronavirus, says Jennie Huang Bennett.

Illinois General Assembly leaders canceled the annual veto session amid rising COVID-19 cases, which means lawmakers won't act on the state budget before January.

The rating agency cited higher leverage from borrowing plans to fund expansions and renovations and passenger traffic losses from the coronavirus pandemic.

The IFA is hoping to capitalize on growing investor interest in green and sustainable bonds.

The COVID-19 pandemic pushed the Henry Ford Village continuing care retirement community over the fiscal cliff and into a Chapter 11 filing.