Illinois

The Illinois Metropolitan Pier & Exposition Authority will learn Wednesday the cost of the downgrades it absorbed thanks to the state's budget impasse when it sells $223 million of securities.

The Illinois Finance Authority board advanced nearly $400 million of new borrowing plans at its meeting Thursday in deals that highlight the popularity of direct placements.

Illinois-based College of DuPage fired its top two fiscal managers – treasurer Thomas Glaser and controller Lynn Sapyta – accusing the two of violating school investment practices and other internal rules.

The Illinois attorney general won't ask the U.S. Supreme Court to review the the Illinois Supreme Court’s voiding of the state’s 2013 pension reform legislation.

Illinois’ cash flow position grows more dire by the day with the state on pace to rack up an $8.5 billion bill backlog by the start of the new year, Comptroller Leslie Geissler Munger warned Wednesday.

Services are scheduled this weekend for Jerry B. Wallack, a prominent Chicago-based public finance lawyer who died suddenly Sept. 4. He was 63.

Not only will a huge property tax hike to fund pensions be a tough sell in Chicago, it will only go part of the way toward solving the city’s fiscal problems, experts said.

OSF Healthcare System in Illinois heads into the market next week with its $368 million sale with a second dose of good credit news.

More than half of Chicago and its sister agencies’ 11 public employee pension funds have agreed to a joint proposal promoted by Treasurer Kurt Summers that’s aimed at cutting annual investment fees.

Amid the attention generated by the Illinois budget crisis, a long-term infrastructure problem is brewing behind the scenes, according to a report comparing the state’s infrastructure shortcomings to its budget deficit and pension shortfalls.

The Illinois House failed Wednesday to override Gov. Bruce Rauner's veto of a controversial labor bill, handing the governor a victory in his ongoing budget battle with the General Assembly.

Chicago Mayor Rahm Emanuel will reportedly propose a $500 million tax increase as part of his new 2016 budget largely for police and fire pension payments.

All three major rating agencies now have Cook County, home to Chicago, on negative outlook amid major pension obligations and other financial challenges.

Illinois has a new deputy debt director and plans to sell bonds at some point this year, according to a spokesperson for Gov. Bruce Rauner.

Solutions to the public pension funding crisis go beyond numbers crunching, said Manhattan Institute pension expert Daniel DiSalvo.

The stark political divisions around the idea of allowing Chapter 9 bankruptcy in Illinois were highlighted at a recent legislative hearing.

The budget stalemate in Illinois matters less than how the state finally decides to deal with its pension problem, Moody’s says in a new report.

After downgrades from all four rating agencies since May, Chicago Public Schools got a fresh warning from Moody’s on Monday that its new budget could mean more negative ratings action.

The former head of the Illinois State Toll Highway Authority has joined Chicago Treasurer Kurt Summer's office.

Chicago's efforts to solve its pension funding crisis could negatively impact O'Hare International Airport's growth prospects, Moody's Investors Service warns in a new report that otherwise offered the city good credit news in affirming the airport's debt.