Illinois

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.

Illinois' public colleges and universities remain at risk of further credit damage after 21 months of state budget gridlock, Moody's Investors Service said Thursday.

Two Illinois-based not-for-profit healthcare systems dropped their merger plans Tuesday following a court ruling that favored the Federal Trade Commission in its efforts to block the union.

Illinois is awash in red ink and it’s expected to spread, according to series of bleak fiscal reports this week that illustrate the toll of a 21-month-old budget stalemate on state finances.

Illinois governments could lose up to $400 million in federal interest rate subsidies on their Build America Bonds under prolonged federal budget sequestration, according to a new academic study that looks at the losses as similar programs are eyed to help fund $1 trillion in infrastructure spending

A flurry of filings are due over the next month as Chicago Public Schools seeks a ruling by May 1 on its request to block the distribution of state funding under current formulas.

A changing of the guard is set at the civic arm of a prominent Chicago-based business organization that has worked to influence city and state action on their pension debt.

The wheels came off the so-called "grand bargain" deal for an Illinois budget Wednesday, which may bode poorly for the state's already low bond ratings.

The Illinois Senate is expected to vote Wednesday on tax hikes that would raise billions in new annual revenue as leaders press forward with their bipartisan "Grand Bargain" legislation aimed at ending the 20-month-old budget standoff.

Chicago Public Schools is warning that without state help or court intervention a $129 million shortfall may force it to end the school year early.

Chicago-based Pugh Jones & Johnson PC has hired veteran municipal attorney Brendan Cournane to round out its public finance team, a move the firm believes will further boost its evolution from a firm in the second seat to a player among lead bond counsel firms.

The prospect of swift legislative action to overhaul the Illinois education funding system appeared more remote Thursday, as the state House’s top Democrat announced of a new task force to come up with a plan.

Chicago-based Daniel A. Noyes & Co. has added three institutional sales professionals to its fixed-income team in Indianapolis, a move the firm believes cements its expansion into municipals.

The Chicago Board of Education approved an amended $5.4 billion fiscal 2017 budget that trims spending to plug about half of a $215 million budget gap created by a gubernatorial veto.