Illinois

Attorney Mitchell Holzrichter, who specializes in infrastructure and government work, has returned to Mayer Brown’s Chicago office after a stint in Gov. Bruce Rauner’s administration.

Illinois’ 18-month-old state budget deadlock showed little sign of easing Wednesday as Gov. Bruce Rauner delivered his third State of State address with Senate leaders struggling to build support for a bipartisan solution and House Democrats renewing their attacks on the governor's agenda.

Illinois' latest stab at pension reform is unconstitutional and will face a court challenge if it becomes law, a union lawyer warned lawmakers Tuesday.

The latest version of a sweeping bipartisan Senate plan aimed at breaking Illinois' political gridlock and solving the state's fiscal mess would generate more than $6 billion in fresh revenue from new and increased taxes.

Moody’s Investors Service late Friday revised its outlook to stable from negative on the Catholic Archdiocese of Chicago.

Illinois Senate leaders will push for midweek passage of their “Grand Bargain” legislation in hopes of breaking more than18 months of political gridlock.

Chicago’s spread penalties in the primary market hit a new peak Thursday on its $1.2 billion general obligation sale.

A five-year-old Illinois law that safeguards not-for-profit hospitals’ local tax exemptions in exchange for meeting minimum charity and community care standards is before the Illinois Supreme Court.

It was a year of disappointing investment returns from 11 local government pension funds in Illinois, according to the latest annual report from a state government commission.

Chicago Public Schools began the work of chipping away at a $215 million budget hole caused by Gov. Bruce Rauner’s recent veto of funds to help cover a $720 million teachers’ pension payment.

Chicago will collaborate with federal officials to secure a $1 billion low-interest loan for Union Station upgrade.

Chicago’s fiscal position and Chicago Public Schools’ deep distress are the subject of two special reports published Thursday by Moody’s Investors Service.

So-called intervention bankruptcy – combining federal and state resources – could help governments manage municipal insolvency, said a Manhattan Institute report.

Illinois opened its new legislative session Wednesday with a renewed warning from Fitch Ratings that the clock is ticking on a possible downgrade if lawmakers and Gov. Bruce Rauner can’t break their budget stalemate.

Chicago Mayor Rahm Emanuel isn’t happy with Moody’s Investors Service, so he’s trying to make the rating agency go away.

Chicago is conducting a full court press with investors this week to promote a $1.16 billion general obligation bond sale.

An overhaul meant to save Chicago's municipal employees' and laborers' pension funds from looming insolvency won state Senate approval Monday but faces veto threat.

Illinois Senate leaders said they will work to pass by Feb. 1 their so-called "grand bargain" plan aimed at breaking the year-and-a-half old budget logjam that's driven the state's unpaid bill backlog to $11 billion and dragged its ratings down to the lowest among states.

Chicago receives $1.1 billion of federal rail grants in final days of Obama administration.

Illinois’ third consecutive annual population loss poses a credit negative that underscores weak economic growth, Moody’s Investors Service said Wednesday.