Illinois

An Illinois city is currently under audit for $12.8 million of general obligation corporate purpose bonds it issued seven years ago.

Chicago is moving to finalize the new money piece of an up to $1.25 billion general obligation bond sale.

Columbia Capital Management LLC has added Courtney Shea to its ownership team.

Allegations of securities violations against Calvin Grigsby should be dismissed, an Illinois hearing officer recommended in a case that stemmed from his firm Grigsby & Associates advising a state agency to invest in a bank that later failed.

Illinois lawmakers head into the homestretch of their regular session with growing anticipation for the results of two bipartisan budget working groups trying to reach agreements and break an almost 11-month-old budget impasse.

The Cook County, Ill. board advanced new money and refunding borrowing plans and two major development projects.

Investors snapped up Chicago's $537 million water revenue bond issue, allowing the city to trim the steep interest penalties its bonds typically face.

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.