Illinois

Market participants are increasingly contemplating the impact of Illinois potentially losing its investment-grade ratings.

Illinois is at a fiscal tipping point as its unpaid bill backlog hovers near $13 billion and its budget stalemate headed toward the two-year mark, Moody's Investors Service said.

Illinois Gov. Bruce Rauner and lawmakers veered in opposite directions, casting more doubt on the prospects for a budget resolution.

Chicago will forgo a private financing arrangement and instead reach into its own pockets to finance a $160 million overhaul of its streetlight system.

City Colleges of Chicago took a fresh rating hit this week over strains posed by the state’s prolonged budget impasse.

Illinois Gov. Bruce Rauner’s veto of Chicago’s pension overhaul doesn’t pose an imminent threat to the city’s credit, S&P Global Ratings said.

Kansas City, Missouri’s $800 million request is the biggest bond measure on April 4 ballots in Midwestern states, where voters will decide the fate of more than $2 billion of municipal borrowing requests.

A procedural ruling by the state Supreme Court means Illinois’ not-for-profit hospitals have dodged a bullet, at least temporarily, on the state’s charity care requirements.

Time is running short for Illinois to move forward with a public-private partnership to install managed lanes on a state interstate, Gov. Bruce Rauner warned lawmakers Monday.

Chicago expects the veto-proof passage in early April of an identical bill to the one vetoed Friday that saves its municipal and laborers' pension funds from insolvency, the city's finance chief told investors Monday.

Illinois Gov. Bruce Rauner Friday vetoed legislation designed to save Chicago’s municipal and laborers’ funds from insolvency.

Illinois Gov. Bruce Rauner pressed reluctant Democrats to get behind state pension legislation that would provide Chicago Public Schools with $215 million in one-time aid to avert an early end to the school year.

Resolution of Illinois’ budget crisis likely requires new revenue and spending curbs because natural economic growth alone isn’t enough to tackle the state’s massive debts, a Chicago Federal Reserve economist told lawmakers.

The escalating feud between Illinois’ Republican governor and Democratic comptroller underscores the budget impasse that has undermined the state government’s finances.

Marengo, Illinois took a two-notch rating hit and faces the prospect of another over its pension strains.

Illinois stands to lose $40 billion in federal Medicaid funding over the next 10 years under the current Republican plan to replace the Affordable Care Act as Moody’s warns that the plan is a negative credit development for states.

One of the only intermodal freight facilities to take advantage of a special 12-year-old federal private activity bond program is readying its fourth round of financing.

Bipartisan efforts to resolve Illinois' nearly two-year-old budget impasse took a backseat at the state capital as Republicans pressed stand-alone pension legislation and a bill giving Gov. Bruce Rauner sweeping emergency budget powers.

The sovereign powers and strong general obligation repayment statute supporting Illinois’ investment-grade ratings are being tested by budget gridlock and what one analyst describes as approaching “service level insolvency.”

Chicago is a standout as the "worst" among its big city peers in key pension system measurements, according to a new S&P Global Ratings pension report.