Illinois

Underwriters interested in working on nearly $1 billion of planned borrowing by the Illinois State Toll Highway Authority over the next three years have until Friday to apply.

Chicago’s widening spread penalties may not ease until the state cleans up its budget mess and Chicago Public Schools shores up its rocky finances, because investors are wary of overlapping credit cluster risk.

Chicago Public Schools, in its latest financial report, warns of more red ink to come this year and “difficult” decisions next year without additional state help.

A $7 billion borrowing proposal to pay down Illinois' record $11 billion bill backlog would save money compared to the 9% to 12% rate the state pays on its overdue bills, according to the Chicago Civic Federation.

Illinois Gov. Bruce Rauner attacked and vowed to fight Illinois Attorney General Lisa Madigan’s attempt to block state payroll amid the 18-month-old budget impasse.

Moody's Investors Service said it has upgraded Zion Park District, Ill.'s general obligation unlimited tax (GOULT) bonds to Baa3 from Ba1 and general obligation limited tax (GOLT) debt certificates to Baa3 from Ba2.

With a potential downgrade looming, sponsors of the Illinois Senate’s bipartisan budget fix put off a vote until February

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.