Illinois

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.

The Chicago Teachers Union president attacked Illinois Gov. Bruce Rauner and district leadership in a speech Wednesday, amplifying pressure on the cash-starved district .

A Chicago museum envisioned by Star Wars creator George Lucas relies on a complex, $1.2 billion borrowing scheme.

Junk-rated Chicago Public Schools will offer a fiscal 2017 budget next month that relies on credit lines to help pay its bills, schools chief Forrest Claypool said.

Illinois lawmakers resumed work with new proposals on redistricting and a tax hike on top earners, as well as news that their paychecks will be delayed.

The Chicago Infrastructure Trust is soliciting private partners to overhaul the city and park district’s outdoor public lighting system.

Cook County, Ill., is eyeing a refunding of $334 million of 2006 general obligation bonds ahead of a new money sale of as much as $140 million later in the year.

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.