Yvette Shields

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.

S&P shifted its outlook the Illinois public universities it rates to negative as questions abound over how the state will manage revenue losses.

Chicago Mayor Lori Lightfoot says city hopes for additional federal help and won't dip into reserves or push off pension payments to manage through coronavirus-induced economic turmoil.

The court offered a bruising assessment of Nuveen's attempts to choke off Preston Hollow's business, but the investment powerhouse doesn't face any penalties or damages.

Moody’s revised its outlook on Illinois’ Baa3 rating to negative from stable; a university study warns of a worst-case $28 billion multi-year revenue hit.

The city is projecting a $100 million deficit in its current budget once the public health crisis caused by COVID-19 eases, Mayor Mike Duggan said.

The review by Moody's Investors Service comes as the district is working on new money and refinancing deals.

The state's ratings are low investment grade, but the secondary market is pricing its bonds as high-yield.

S&P Global Ratings moved its outlook on Illinois' BBB-minus to negative from stable on "worsening economic conditions," an action that also impacted sales tax, convention center and sport facilities' bonds.

Lori Lightfoot's confident statements about the city's fiscal resilience aren't wholeheartedly shared by the muni buy-side as the coronavirus hurts the economy.

The bond-financed $420 million expansion project moved forward over the objections of board members who questioned the timing amid plummeting tax revenues.