Illinois

Fitch's commentary suggests a rating upgrade from BBB-minus is in the offing if the governor's proposed budget passes.

Alderman Patrick Daley Thompson, the grandson and nephew of Chicago mayors, was found guilty of federal charges of making false statement and tax fraud.

Stability at the state government level and the prospects of more aid in fiscal 2023 eased balance sheet pressures on Illinois' public universities.

The SEC terminated its latest proceedings against the city after an independent consultant found the city was in "substantial compliance" with a 2014 judgment.

Susana Mendoza argues that a budget plan that would use surpluses to pay down bills and raise pension contributions shows the state is on the right fiscal path.

Illinois' burdensome pension tab and questions over whether revenue can keep pace with spending in the long term pose strains, but the governor's plan to use surpluses to pay bolster the rainy day fund and pension contributions and pay down bills moves the state in the right direction.

Gov. J.B. Pritzker highlighted rating recent upgrades as he presented an election-year budget that would also offer tax relief and reduce the bill backlog.

Like peers with big endowments and strong student demand, the private university in Chicago has managed through the pandemic with its ratings intact.

Loop acquired an investment advisory firm from BMO.

Illinois Gov. J.B. Pritzker will unveil a proposed, fiscal 2023 spending plan Wednesday that offers some modest, one-time targeted tax relief.