Ratings

Moody's followed S&P in issuing a shot across the bow on coronavirus-driven threats to Illinois' ratings that are one cut away from junk.

S&P said the downgrade is the result of what is likely a one-off analytic error in 2005; the bonds in question are held by Fannie Mae and have never traded.

The city's use of reserves to manage past deficits drove a two-notch downgrade from S&P Global Ratings, to A from AA-minus.

Talent, Oregon, was in the path of destruction created by the Almeda Fire in a 13-mile corridor between Ashland and Medford.

S&P issued a bulletin Monday warning that pressure is mounting on Illinois' BBB-minus rating —the lowest investment grade — as federal relief remains stalled.

Potential fiscal fallout from the police killing of George Floyd and the pandemic's economic strains brought a negative outlook to the city's AAA S&P rating.

The rating agency lowered the authority's transportation revenue bonds to A3 from A2, citing again the effects of the coronavirus.

The student housing and academic facility that serves the University of Illinois Chicago campus opened in August.

Moody's cited high leverage and fixed costs attributable to the city's pension and other post-employee benefit plans. Voters decide on new bonds in November.

Firefighters are waging battle against an estimated 7,000 fires of varying sizes throughout the state; nearly 1.5 million acres have burned.