Illinois

Markham, Ill., faces a possible further downgrade of its junk-rated debt unless it releases updated financial information by Aug. 24, Standard & Poor's said Monday.

Moody’s Investors Service labeled the Metropolitan Pier and Exposition Authority's inability to make its monthly debt service deposit a “credit negative” for Illinois’ A3 rating.

Standard & Poor's credit view of Illinois' flagship public university has dimmed due to uncertainty over when the state will solve its fiscal 2016 budget impasse and how the school will fare in a final plan.

Chicago Public Schools released a proposed $6.4 billion fiscal 2016 budget that pockets more than $300 million from one-shots and gambles on the state coming through with nearly $500 million in pension.

Standard & Poor's, in a special comment, said it wants to see how serious Chicago is about fixing its structural budget deficit.

Illinois Gov. Bruce Rauner is escalating pressure on Chicago Mayor Rahm Emanuel to help pass his agenda by offering up a sweeping fiscal fix for the Chicago Public Schools' pension woes.

Chicago's Midway International Airport is in line for $250 million in upgrades under a plan announced Thursday by Mayor Rahm Emanuel.

The U.S. Supreme Court has granted Illinois Attorney General Lisa Madigan's request for more time to consider whether to appeal the state's high court voiding a 2013 state pension system overhaul.

The Metropolitan Pier and Exposition Authority's triple-A Standard & Poor's rating became a victim of the Illinois budget impasse, getting a seven-notch downgrade.

Chicago's rising pension and debt service tabs, and a persistent, albeit shrinking, operating deficit, pose a long-term strain to the city's balance sheet, the city says in its annual financial overview.

Chicago heads into 2016 budget season in need of $754 million to cover an operating deficit and higher pension contributions, according to figures released by Chicago Mayor Rahm Emanuel.

Moody's Investors Service stripped Kankakee County, Ill., of its investment grade rating over its fiscal struggles and warned it might not stop at the Ba3 level.

A Cook County Circuit Court judge denied Chicago’s request to keep its court-voided pension reforms in place pending an appeal.

The Chicago Transit Authority enters the market next week with a $176 million issue to refund some of its federal grant-backed debt for savings.

Chicago Mayor Rahm Emanuel submitted bonding ordinances to authorize up to $2 billion of O’Hare airport borrowing as well as $675 million of general obligation and wastewater debt.

Senate leaders are raising concerns over legislation passed by the House and supported by Gov. Bruce Rauner that halts cost-of-living pay raises for Illinois lawmakers in the current fiscal year.

Chicago officials warned state lawmakers that Gov. Bruce Rauner’s sweeping statewide pension proposal offers Chicago Public Schools only a temporary salve.

Cook County, Ill.'s president won't support Gov. Bruce Rauner's pension reforms even though they give the cash-strapped county many of the reforms it wants, because it would also mean supporting the governor's anti-union measures.

Illinois Attorney General Lisa Madigan wants to leave the door open for a possible U.S. Supreme Court appeal after the state's high court voided a state pension system overhaul.

Fitch Ratings downgraded the Chicago Board of Education’s $6 billion of general obligation debt down to junk Monday.