Illinois

S&P Global Ratings has affirmed and placed on CreditWatch with negative implications its 'A' long-term rating on Illinois State University Board of Trustees' series 2016 auxiliary facilities system (AFS) revenue bonds. In addition, we affirmed our 'A' long-term rating and underlying rating (SPUR) on existing bonds and certificates of participation (COPs), issued on behalf of Illinois State University (ISU).

A conference in Chicago weighs lessons from Detroit's bankruptcy.

Seven Illinois public universities with more than $2 billion in rated debt face a rating review.

Rend Lake College will issue $5 million in bonds to help defray operational costs in light of the state budget crisis.

Illinois House Democrats pressed forward on an $800 million spending bill.

Midwestern voters loosened their purse strings to approve Kansas City, Missouri’s $800 million infrastructure referendum but held fast against St. Louis’ public financing request for a new soccer stadium.

Distressed local governments struggling under the weight of pension, healthcare, and other debts could turn to a special authority for fiscal guidance under legislation before Illinois lawmakers.

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.