Illinois

The Chicago Board of Education will vote next month to revise its $5.4 billion fiscal 2017 budget to incorporate $55 million of added costs under a four-year labor contract ratified by teachers this week.

Chicago’s proposed $8.2 billion 2017 budget won the Civic Federation of Chicago’s endorsement in recognition of the city’s progress in tackling pension funding shortfalls and shedding poor financial practices.

The Midwest’s voters will decide on an array of bond and tax questions requesting new funding for schools, infrastructure, transit, and highway projects and fill key leadership roles.

A federal appellate panel dealt a setback Monday to the proposed merger of two Illinois based systems -- Advocate Health Care and NorthShore University HealthSystem.

Illinois heads back into the market Thursday with investors and analysts looking ahead to the Nov. 8 election because the outcome of legislative races could influence the state’s longstanding budget gridlock.

Illinois’ state capital took a two-notch credit blow over its growing pension burden.

Stand-alone Chicago-based Swedish Covenant Hospital was affirmed by one rating agency and dropped one notch to BBB by another ahead of its $120 million new money and refunding sale.

The junk-rated Chicago Board of Education approved $840 million of new money borrowing backed by a citywide capital improvement tax levy and another $160 million of refunding bonds.

The Chicago Park District heads into the market with a $119 million issue with pension reform clouds overshadowing its strong operating results and double-A ratings.

Illinois voters will decide Nov. 8 whether to bar future diversions of transportation revenues to balance budgets or fund non-transportation related expenses.

Junk-rated Chicago Public Schools will ask its Board of Education for authority to sell up to $840 million of bonds backed by a new citywide capital improvement tax levy.

The Illinois State Toll Highway Authority's proposed 2017 budget calls for nearly $1 billion in capital spending supported by $300 million in toll-backed borrowing.

Any delays in Illinois' monthly contributions pose a negative credit risk to the state, Moody's Investors Service said Friday.

Illinois-based Edward-Elmhurst Healthcare received an A rating from Fitch Ratings as it prepares to come to market to refund old debt issued by the two systems that joined forces in 2013 and establish a new obligated group.

Rank-and-file Chicago teachers will vote next on a proposed four-year contract reached earlier this month between Chicago Public Schools and the Chicago Teachers Union on the eve of a planned strike.

Chicago heads into the market next week with nearly $1.1 billion of O’Hare International Airport paper -- one of the city’s more digestible revenue-backed credits generally insulated from the city’s pension and budget ills.

Chicago’s motor fuel bonds and a Transportation Infrastructure and Innovation Act loan fell a notch Tuesday as S&P Global Ratings’ moved the ratings down in tandem with its recent downgrade of the state’s general obligation rating.

The Illinois Finance Authority signed off on $800 million of borrowing plans by several Illinois-based not-for-profit health systems and a Chicago art museum joining the parade of issuers to hit the market this quarter with both new-money and refunding paper.

Illinois' arrangement to directly place $600 million of existing floating-rate debt with four banks received a positive review from Moody's Investors Service though its Baa2 rating and negative outlook are unchanged.

Cook County’s proposed 2017 $4.4 billion operating budget relies on a tax on soda and other sugary beverages to help erase red ink while protecting spending on health and public safety services.