Illinois

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.

Illinois is on pace to close out the fiscal year with a $10 billion to $12 billion backlog of unpaid bills as the state moves into its eighth month without a budget, state comptroller Leslie Geissler Munger said.

The junk-rated Chicago Board of Education plans to price its delayed deal as soon as this week amid headlines that include a fresh downgrade and possible progress on a new teachers' contract.

Chicago and the major airlines that operate at O’Hare International Airport have agreed to a $1.3 billion plan that paves the way for construction of a new runway that would complete the long-planned parallel reconfiguration of runways.

Veteran Chicago-based bond attorney Thomas Smith has joined the local office of Greenberg Traurig LLP.

The Art Institute of Chicago received two good pieces of news when Moody’s Investors Service revised its outlook to positive and it announced its largest cash gift ever.

The Chicago Public Schools' last-minute pricing delay puts more of an onus on the district to demonstrate its ability to access the bond market.

Chicago Public Schools yanked a $875 million general obligation bond sale from Wednesday’s negotiated offerings, moving it to the day-to-day calendar; district officials said the move will give investors more time to digest the deal, but some observers said it illustrates the district’s deep distress.