Illinois

Illinois-based OSF Healthcare System won an upgrade ahead of its September new money and refunding sale for $367 million in recognition of its improved financial performance.

The Chicago Park District's steep yield premiums drew strong interest in the agency's Aug. 27 sale as the penalties nearly doubled on some maturities when compared to a June 2014 sale that carried the same published ratings.

Illinois Gov. Bruce Rauner's administration won't move to extend its contract with financial budget consultant Donna Arduin after its Aug. 28 expiration.

Pittsburgh-based PNC Capital Markets LLC hired public finance banker Kerry Rudy in Chicago to lead its national healthcare sector and is bolstering its New York team with the addition of Lawrence Stephens to lead coverage of the city.

The Chicago Board of Education credit suffered its latest blow Thursday when Kroll Bond Rating Agency dropped its rating two levels to BBB-minus, allowing the district to retain its sole investment grade level rating.

The junk-rated Chicago Board of Education unanimously signed off on a $6.4 billion budget panned by rating agencies for rolling over debt and gambling on uncertain state support.

The Illinois Metropolitan Pier and Exposition Authority plans to enter the market after revamping its hotel financing plan following rating downgrades triggered by the state's budget impasse.

A Chapter 9 filing by the Chicago Public Schools could push the distressed district into a financial "death spiral," the district's former chief executive officer Paul Vallas said Tuesday.

The Chicago Park District heads to market Thursday with $88 million of debt that market participants say should offer up some alluring yield premiums due to the troubled Chicago name.

Chicago Mayor Rahm Emanuel will unveil his proposed 2016 budget Sept. 22, giving market participants a few days to digest his plan for stabilizing city finances before hosting investors on Sept. 25.

Illinois Gov. Bruce Rauner signed legislation Thursday that allows the Metropolitan Pier and Exposition Authority to make its debt payments even without a state budget in place.

Moody’s Investors Service stripped the limited tax general obligation bonds of the Cook County Community School District 147 in Dixmoor, Illinois of their investment grade rating.

Illinois Gov. Bruce Rauner’s latest offer to shore up the finances of Chicago Public Schools fell flat with Democratic legislative leaders who don’t like the conditions attached.

Issuers in the Midwest sold $37.5 billion of municipal bonds in the first half of 2015, up 17.5 % from the same period of 2014 as refundings made up for a decline in new money issuance.

Moody's Investors Service has revised its outlook on Wisconsin-based Mercy Alliance's A2 rating to negative from stable due to execution risks with the system's January merger with Rockford Health System.

Standard & Poor’s stripped the Chicago Public Schools of its investment grade rating with a three notch downgrade saying a proposed budget does little to solve its structural or liquidity woes.

The Illinois Finance Authority advanced plans for nearly $1 billion in borrowing on behalf of not-for-profit schools and hospitals led by the University of Chicago.

The Illinois Supreme Court will consider Chicago's appeal of a lower court ruling voiding its 2014 pension reform legislation under an expedited timetable leading to oral arguments this November.

A group of Illinois House Democrats proposed legislation Thursday to end the state’s practice of subsidizing local districts’ teacher pension contributions — a move that could help Chicago Public Schools.

The Illinois House unanimously passed a bill that authorizes $5.2 billion in federal funds spending and allows the Metropolitan Pier and Exposition Authority to make debt payments, after Democrats abandoned efforts to tack general fund spending onto the measure.