Yvette Shields

Weak investment returns, assumption changes, and low contributions pushed up the cumulative unfunded liabilities of 11 local government pension funds.

The amended complaint lays out the evidence from recorded calls presented during the former proceedings, naming some Nuveen officials that were referenced as unnamed individuals, broker-dealers and banks.

Chicago’s motor fuel bonds, the city’s park district, and Cook County suffered rating or outlook cuts this week.

Illinois published its fiscal 2019 financial results Thursday as strains from the coronavirus pandemic loom large over fiscal 2020 and 2021.

S&P revised its outlook on Detroit's speculative grade rating to negative from stable Thursday as COVID-19 clouds the city's fiscal prospects.

Fiscal blow to MPEA's operations and tax collections follow the halt to trade and convention business that began in March.

Illinois tentatively plans to sell $1.2 billion of certificates next week and $1 billion of bonds the following week.

S&P Global Ratings changed its outlook on Chicago's BBB-plus rating to negative citing financial strains caused by the pandemic.

The system's offering statement presents a detailed picture of the pandemic's impact so far.

The Center on Budget and Policy Priorities said bankruptcy "could significantly raise states' cost of issuing bonds to pay for major transportation projects and other investments that boost the economy."

A new mayoral task force will work on Chicago's economic recovery effort as the city's finance team continues to assess the damage.

The state applied the green designation to the $80 million deal, but didn't obtain third party verification.

The March losses underscore the fiscal strains for hospitals but many facilities are expected soon to resume elective surgeries and diagnostic procedures.

The Illinois penalty that raises borrowing costs for all issuers in the state may widen as local agencies and governments face likely cuts in state support.

Federal operating aid will help manage the Illinois Regional Transportation Authority's expected tax and farebox hits this year but storm clouds loom.

The downgrade brings Fitch into alignment with Moody's and S&P, and the negative outlook leaves Illinois without any rating room above speculative grade.

Their governors are pressing the Trump administration to support more relief that directly addresses revenue blows

The city faces the loss of $348 million of revenue because of the economic shutdown, threatening the balanced budgets it needs to avoid state intervention.

Gov. J.B. Pritzker laid out revised revenue estimates for the fiscal 2020 and proposed 2021 budgets.

Illinois has spent about $170 million on coronavirus-related expenses so far, and Gov. J.B. Pritzker said more information on the budget impact is coming.