Illinois

The fate of Chicago’s overhaul of two of its four pension funds now rests with the seven justices of the Illinois Supreme Court.

The Illinois State Toll Highway Authority is highlighting to investors its double-A ratings and fiscal strength as it prices a $400 million deal against a backdrop of two recent downgrades to Illinois state general obligation bonds.

Illinois Gov. Bruce Rauner’s budget summit with legislative leaders is being pushed back two weeks as the state’s bill backlog climbs and its credit ratings remain under threat.

A consortium of Canadian pension funds will take over the lease rights to the Chicago Skyway toll road for $2.8 billion.

Moody’s Investors Service has revised the University of Chicago Medical Center's outlook to stable from negative thanks to two years of stronger operating margins.

Illinois’ unfunded pension obligations worsened slightly in fiscal 2015 while the funded ratio showed modest improvement, according to the Civic Federation of Chicago.

Stepping into the state budget fray, the Illinois Finance Authority expects to soon finalize a $115 million state moral-obligation backed financing to speed up overdue payments for essential goods and services.

Chicago’s water enterprise credit was removed from Fitch Ratings’ negative watch list in recognition of its resolution of liquidity strains tied to downgrades that triggered defaults on bank contracts.

A lengthy battle between a bond trustee and bankrupt Chicago-area hockey arena operator Leafs Hockey Club over $20 million of unrated bonds is nearing an end.

Chicago’s unfunded pension obligations could continue to swell for at least the next decade, even under a best-case scenario, Moody’s Investors Service concludes in a new report.

Moody's Investors Service had more upgrades than downgrades in the third quarter of 2015, and the upgrades also affected a larger dollar amount of debt than its downgrades.

Concerns over the size of Cook County, Ill.'s sales tax hike to shore up pensions overshadows other accomplishments in board President Toni Preckwinkle's proposed budget, the Civic Federation of Chicago said.

Illinois Gov. Bruce Rauner hired financial advisory specialist Kelly Hutchinson from the firm A.C. Advisory to manage its debt as capital markets director.

Chicago’s passage of a record tax hike to help stabilize its public safety pension funds has fueled further tightening of the city’s general obligation trading levels in recent days, Municipal Market Analytics says.

Chicago squares off in the Illinois Supreme Court Nov. 17 with unions and pension fund members challenging the overhaul of its municipal and laborers' pension funds.

Moody's Investors Service is taking a positive view of Springfield, Ill's water, light and power utility's $500 million debt restructuring as a stabilizing influence on its credit profile

The Illinois Teachers' Retirement System's total unfunded pension obligations worsened slightly in the last fiscal year, to $62.7 billion from $61.5 billion.

Fitch Ratings and Kroll Bond Rating Agency see the Chicago City Council’s passage of a record property tax as a good step toward stabilizing the city’s finances, though they say plenty of concerns remain.

While Illinois’ falling ratings doesn’t post much default risk, investors should tread cautiously with the credit due to headline risks that could cut the value of their holdings, that’s the assessment offered from one buyside participant.

Investment banking firm Rice Financial Products Co. has hired seven people to bolster its sales and trading operations and expand its footprint in California, Illinois, Texas and New York.