Illinois

K-12 education could be the next victim of the political quagmire enveloping the Illinois budget.

Chicago closes the door on a $2.2 billion downgrade-driven liquidity crisis by selling $535 million of water revenue-backed paper in a deal that sheds bank credit and counterparty risk.

The Chicago Summer Business Institute has 200 applications from high school students looking for an entrance to the business world but only 100 paid internship openings — a shortage organizers say highlights the need for an upcoming fundraiser.

The junk-rated Chicago Public Schools doesn't meet any of five state criteria to warrant further state intervention, the Illinois State Board of Education has found.

A constitutional amendment protecting transportation revenue is headed to Illinois voters, but questions on redistricting and a graduated income tax rate fell by the wayside.

A Chicago-based investment advisor faces jail time after pocketing more than $4 million from the sale of phony Chicago-backed securities that she described as "Chicago Anticipatory Notes."

The Chicago Public Schools face an August deadline to renew its credit lines having generated little traction for plans to bring their budget to a sustainable position.

The financial crises in Chicago and Illinois may get worse before they get better, experts told the National Federation of Municipal Analysts.

Some version of Detroit’s so-called “grand bargain” could help other fiscally struggling Rust Belt cities, including Chicago, the Manhattan Institute for Policy Research says in a report.

Illinois’ recent approval of some funding for higher education and student aid does little to calm concerns about the long-term impact of the funding drought on state university and community college balance sheets and reputations.

A Will County, Illinois school district took a five-notch rating downgrade to the lowest investment grade as it turns to short-term borrowing to deal with fallout from the improper accounting of past bond proceeds.

Some investors in Harvey, Illinois debt report being stiffed on a bond payment, though the city has not made any disclosures through the EMMA system.

Spread fallout from Chicago’s latest pension and rating setbacks hasn’t trickled down to other local governments the way Chicago’s plunge to junk did last spring, Markit says in a new report.

Chicago’s water revenue debt won an upgrade from Standard & Poor’s as the city prepares to shed bank counterparty and liquidity risks in an upcoming issue.

Struggling under the weight of rising costs and construction delays, the Iowa Fertilizer Co. LLC’s nearly $1.2 billion of tax-exempt debt has fallen further into junk territory.

Illinois-based MercyRockford Health System is bringing a $495 million deal to lay the groundwork for both a new hospital and new identity as Mercy Health Corp.

The Illinois Regional Transportation Authority will take bids Tuesday on $150 million of working cash notes that help the agency manage cash flow amid ongoing state aid payment delays.

Chicago Mayor Rahm Emanuel nominated Erin Keane, the city’s first deputy comptroller, to replace Comptroller Dan Widawsky.

Illinois’ cash-starved higher education institutions will soon get some relief after state lawmakers passed a $600 million funding bill to get them through the summer despite the lack of a state budget.

A proposal to ask Illinois voters to increase the state income tax on top earners failed to clear the House.