Illinois

The Illinois General Assembly’s Democratic majority failed Wednesday to override Gov. Bruce Rauner’s veto of a $721 million bill that would have provided aid for cash-starved community colleges and low income student grants.

Illinois’ latest tax revenue projections add another degree of difficulty to its already intractable budget deadlock.

Chicago-based Roosevelt University lost one of its investment grade ratings as it struggles with operating deficits driven by the strains of enrollment losses and a hefty debt load.

The Chicago Teachers Union threatened to strike as soon as next month over Chicago Public Schools' plan to phase out its coverage of teachers' pension payments.

The College of DuPage in suburban Chicago lost its remaining triple-A rating over its governance turmoil and instability.

Three of Illinois' public universities were downgraded, one to junk, as impacts from the state's almost eight-month overdue budget continue to ripple.

The University of Chicago took a hit from Standard & Poor’s, which downgraded the school to AA-minus from AA amid balance-sheet pressure and planned deficits.

The Midwest lagged the national uptick in issuance last year as the conservative region did take advantage of low interest rates to refund debt but held tight the purse strings on new money borrowing.

The spat between Illinois Gov. Bruce Rauner and the Chicago Public Schools could threaten the school district's authority to borrow, if the governor gets his way.

The Illinois Board of Education has opened an investigation of Chicago school finances, the latest sign tensions between Chicago Public Schools and Gov. Bruce Rauner.

Illinois Gov. Bruce Rauner introduced his fiscal 2017 spending plan by asking the legislature's Democratic majorities to support at least some of his policy proposals or give him sweeping powers to balance the state's books.

Legislation to fund Illinois' community college payments and student financial aid grants was delivered to Gov. Bruce Rauner's desk Tuesday.

Continuing turmoil at the College of DuPage, Ill., cost the two-year school one of its triple-A ratings as Standard & Poor's cut it two notches to AA.

Illinois elected leaders have plenty of advice about how to solve their budget problems, with no sign that they are going to take any of it.

The head of the agency that accredits Illinois' state universities issued a warning to state leaders as the schools struggle in the absence of state funding because of a continued budget stalemate.

Dallas-based Hilltop Securities has hired five investment bankers in the Midwest, including four from the Edward Jones team that quit doing negotiated deals in 2015.

The head of Chicago Public Schools said this week’s deal may mark the end of the troubled district’s market access until it makes significant financial changes.

Battered by negative headlines about its solvency, labor troubles, and a state takeover threat, the Chicago Board of Education returned to the market Wednesday after a one-week delay to price a scaled-down deal that offered a hefty high yield of 8.50%.

The Chicago school district, bringing $875 million to market Wednesday after a week's delay, is amplifying its support for the idea that the bonds' pledged tax revenue stream could survive a Chapter 9 bankruptcy.

Chicago Public Schools said it will price its delayed $875 million bond sale Wednesday, amid heightened acrimony with its teachers union and a renewed state takeover threat.