Illinois

The Illinois Finance Authority isn’t quite ready to sell a proposed $115 million state moral-obligation backed financing to speed up overdue payments for essential goods and services.

Illinois House Speaker Michael Madigan suggested that recently expired income tax rates offer a good starting point in negotiations over the role of revenue in solving a roughly $5 billion budget deficit.

A Southwestern Illinois flood prevention agency wrapped up borrowing this week to support its efforts to bring the American Bottom levee system up to snuff to offer 500-year flood protection.

SwedishAmerican Hospital in Rockford, Ill. won an upgrade from Standard & Poor's and also received a positive outlook thanks to its nearly year-old affiliation with a stronger system.

Chicago is joining the Chicago Public Schools in delaying plans to sell general obligation debt until the New Year.

Contribution levels that fall short of actuarially required needs drove growth in the unfunded liabilities of a majority of 11 pension funds that cover Chicago area governments and local government employees throughout the state.

Women in Public Finance has chosen Carole Brown, a longtime Chicago-based public finance banker who became the city’s chief financial officer this year, to receive its founders’ award honoring lifetime achievement.

Illinois Gov. Bruce Rauner signed legislation that frees up $3 billion of funds, allowing the state to distribute motor fuel taxes, gambling, and emergency phone service revenues to local governments.

The Metropolitan Water Reclamation District of Greater Chicago’s proposed $1.21 billion budget has won a key endorsement.

Key portions of a lawsuit filed by a group of Chicago retirees to block the city’s attempt to phase out their healthcare subsidies can proceed, a state court judge ruled.

Moody’s Investors Service revised the outlook on its Baa3 rating of Roosevelt University in Chicago to negative as it struggles with enrollment loses.

Motor fuel tax revenues and gambling tax funds owed to local governments in Illinois would begin flowing again under legislation advancing with Gov. Bruce Rauner’s support.

Chicago Public Schools’ chief financial officer, Ginger Ostro, is leaving the troubled district.

Illinois will make its scheduled $560 million December pension payment despite the ongoing state budget impasse, state comptroller Leslie Geissler Munger says.

The Illinois-based College of DuPage’s former treasurer Thomas Glaser and controller Lynn Sapyta filed a federal lawsuit Tuesday accusing their former employer of wrongful termination for their opposition to a board member’s political agenda.

The Moraine Valley Community College in Illinois lost its top credit marks ahead of its upcoming $9.2 million general obligation refunding.

Illinois’ economic strengths and fiscal flexibility as a sovereign state won’t shield it from further credit erosion, which would move it closer to junk, Moody’s Investors Service said in a special commentary.

The credit picture for the already junk-rated Chicago Public Schools has become even bleaker as Standard & Poor’s placed the district on CreditWatch with negative implications.

Chicago's top-rated sales tax credit took a three notch blow over the city's budget and pension strains.

Cook County’s plan to veer from state law and make an actuarial-based pension contribution offers a “novel approach” that could shape public pension funding debate in Illinois, Fitch Ratings says.