Illinois

Xavier University in Ohio is the latest private Midwest college to face bad financial news -- downgrades from two bond rating agencies -- but it's not alone.

Wells Fargo Head of Municipal Markets Strategy Vikram Rai said on Monday that Illinois' bonds are underappreciated as he released a report on the state.

The proposed sale size has grown to $1.5 billion and the city claims it will bring $90 million in savings this year.

Public policy students will mingle with current municipal finance pros at an upcoming University of Chicago Harris School career forum.

The Chicago Board of Education adopted a nonbinding resolution declaring a moratorium on school closures during a heated public meeting on Thursday.

The $105 million of power project revenue refunding bonds deal for Plum Point Energy Station in Arkansas comes amid tighter emission regulations.

North Carolina is the latest state to eye using a P3 to build tolled express lanes amid insufficient state funding.

Issuance as of Wednesday is at $345.327 billion, a 32.7% increase over 2023. The Bond Buyer 30-day visible calendar on Monday was at $20.02 billion, the largest in nearly four years.

Municipals lagged the UST moves again, cheapening ratios and creating a valuable entry point for investors looking for compelling taxable equivalent yields, particularly 10-years and out.

Chicago released a budget forecast that its corporate fund deficit will grow to $982.4 million in 2025 from $222.9 million at 2024's end.

Illinois will sell up to $1.1 billion of general obligation refunding bonds and $600 million of taxable and tax-exempt GO bonds by the end of September.

Chicago will bring to market $1 billion of bonds for O'Hare International Airport, part one of a three-phase financing plan for 2024.

Dolton's unfunded expenditures have soared since 2021, resulting in a negative $3.65 million balance in its general fund, Lori Lightfoot told village trustees.

Fitch upgraded Chicago's issuer default rating and GO debt rating to A-minus from BBB-plus and the city's sales tax securitization bonds to AAA from AA-plus.

The Chicago Public Schools board unanimously approved the district's 2025 budget Thursday, a day after the Civic Federation warned it is a "temporary solution."

First Eagle Investments has hired Purva Patel, based in Chicago, as managing director and senior investment specialist on its high-yield municipal credit team.

Chicago Transit Authority CFO and Treasurer Jeremy Fine is leaving the agency, CTA President Dorval Carter, Jr., announced.

Fiduciary responsibilities and politics are keeping the ESG debate alive in public finance.

Officials in East St. Louis, Illinois, sued the local police and firefighter pension boards and the state comptroller to block the use of an intercept law.

Detroit-based international law firm Miller Canfield has hired five public finance attorneys from Ice Miller. All five will join the firm's Chicago office.