Illinois

Road projects in Illinois are imperiled by lawmakers' failure to reach accord with Gov. Bruce Rauner on fiscal 2017 state budget.

Political gridlock in Illinois spurred two downgrades and a watch for the state’s already tarnished bond ratings as its bill backlog balloons and red ink swells with no end in sight to a year-old budget stalemate.

Former Illinois capital markets director John Sinsheimer has launched a financial consulting business geared toward helping organizations align their financial resources with their strategic plans.

Chicago-based Presence Health received a Moody’s Investors Service downgrade that leaves it on the lowest rung of investment grade..

The Metropolitan Water Reclamation District of Greater Chicago sold $427 million high grade paper at what a local bond trader described as a “fair” market penalty given the tarnished names of Chicago and Illinois.

Illinois will take competitive bids on $550 million of new money general obligation bonds next week as the state barrels toward its second fiscal year without a budget.

The condition of the state’s road network will worsen without additional investments in highway infrastructure, said Illinois Transportation Secretary Randy Blankenhorn.

Exelon Corp.’s plan to shutter two of its Illinois based reactors is “bad news” for the state and several local communities, says Moody’s Investors Service.

Cook County, Illinois heads into the market next week with positive news from two rating agencies and a downgrade from another.

Chicago’s restructuring of its public safety pension payments will initially drive up unfunded liabilities and cost the city more in the long run, Moody’s Investors Service said.

Chicago’s general obligation rating will remain on shaky ground until its resolves the looming insolvency of its laborers’ and municipal employees pension funds, S&P Global Ratings warned.

Illinois Gov. Bruce Rauner and legislative leaders are shifting away from efforts to reach a two-year budget deal to focus instead on a six-month stopgap spending plan.

While Chicago general obligation paper faces steep trading penalties and rating challenges, the city’s airport paper is faring much better.

Chicago Mayor Rahm Emanuel heralded public safety pension relief granted by state lawmakers who are winding down a regular session that is unlikely to provide similar clarity for the troubled Chicago public schools.

Chicago will get more time to phase in higher public safety pension contributions after state lawmakers overrode a veto by Gov. Bruce Rauner, but no end is in sight to the state’s budget stalemate.

Rating agencies offered modestly positive comments on Chicago's proposal to save its laborers' pension fund from insolvency.

Political discord among Illinois lawmakers and leaders deepened after House Democrats bypassed ongoing bipartisan budget discussions to push through a fiscal 2017 spending plan that Gov. Bruce Rauner said he would veto.

The partisan political in Illinois further deepened Wednesday as the Democratic House Speaker prepared to call a spending plan slammed by Republicans as phony and $7 billion out of whack.

A school district in Will County, Illinois faces a federal probe of its former superintendent's dealings, including the handling of bond funds.

Chicago’s second shot at fixing one of its woefully underfunded pension funds offers investors at least a small sign of progress, several market participants said.