Illinois

Ascension Health Alliance, the nation's largest not-for-profit healthcare system, plans to sell about $1.9 billion of debt over the next month.

With Illinois’ public higher education schools facing downgrades and accreditation risks, Gov. Bruce Rauner and the legislature’s Democratic majority remain at loggerheads over how to free up their funding amid the ongoing budget impasse.

Ordinances introduced to the Chicago City Council Wednesday authorize $600 million in new-money, general obligation borrowing and impose new oversight rules on some bond structures.

Illinois Gov. Bruce Rauner and House Speaker Michael Madigan dug in their respective heels, deepening a rift over the state budget.

A fix for Illinois’ $112.9 billion unfunded pension tab, which requires an $8 billion contribution next year, remains high on the minds of lawmakers in the midst of their 10-month-old budget impasse.

In the political pendulum that marks Illinois’ budget gridlock, the legislature’s Republican minority leaders are taking their turn with a proposal to fund human and social service programs.

Cook County board President Toni Preckwinkle will introduce plans next week for a privately financed $600 million redevelopment of the county’s long-closed historic hospital along with a new $118 million bond-funded addition to its current hospital campus.

After a long wait, legislation to reduce Chicago's contribution this year to its public safety pension funds was sent to Gov. Bruce Rauner's desk.

Illinois community colleges face downward rating pressure from delays in state aid payments and likely future state aid cuts.

Illinois’ net financial position based on governmental activities worsened in fiscal 2015, reaching a negative $125.3 billion, according to the state auditor general.

Kroll Bond Rating Agency downgraded Chicago’s general obligation bond rating one notch to BBB-plus in response to the Illinois Supreme Court’s decision tossing its 2014 overhaul of two of its four pension funds.

A massive hike in Illinois’ gasoline tax and vehicle registration fees could generate $2.7 billion in new annual revenue to fix the state’s deficient transportation infrastructure, said a Chicago-based planning think tank.

The Chicago Board of Education is not subject to rules that allow the State Board of Education to curb the borrowing powers of financially distressed districts, Illinois Attorney General Lisa Madigan said in a special opinion.

Legal and political processes must lead to pension fixes in Chicago, California, and around the country, said leaders of an advocacy group dedicated to public sector pension reform.

Standard & Poor’s downgraded Presence Health two notches to BBB-minus and put the rating on CreditWatch with negative implications.

Chicago will return to the bargaining table with its unions to take a second stab at reforms aimed at passing state constitutional muster, said Mayor Rahm Emanuel.

Chicago can’t afford much of a delay in outlining a “clear plan” to stabilize its municipal and laborers’ pension funds after the Illinois Supreme Court ruling nixed its 2014 reforms, Moody’s Investors Service said Tuesday.

The impact a Chapter 9 bankruptcy would have on Chicago Public Schools and its investors is cloudy, market participants say.

Fitch Ratings slapped Chicago with a two-notch downgrade to BBB-minus, citing last week’s state Supreme Court ruling that tossed out city pension reforms.

Chicago must go back to the drawing board after the Illinois Supreme Court voided legislation that overhauled two city pension funds with the aim of keeping them solvent.