Illinois

Rep. Randy Hultgren said he has developed an appreciation for bonds as a result of his past experiences in both the public and private sectors.

Chicago mayoral challenger Jesus “Chuy” Garcia offered up ideas for freeing up city revenue in a financial plan that left unanswered questions over how he would tackle the city's staggering pension woes.

This week's oral arguments at the Illinois Supreme Court about the constitutionality of the state's pension overhaul legislation left few hints about how the judges will rule.

Fitch Ratings knocked Chicago-based Roosevelt University's rating down to the lowest investment grade level due to ongoing negative operations.

Illinois' need to protect the public welfare in the face of a fiscal emergency by cutting pension benefits trumps their state constitutional protections, Solicitor General Carolyn Shapiro told the state's high court Wednesday.

Illinois squares off against opponents of its 2013 pension reform legislation Wednesday afternoon before the Illinois Supreme Court in arguments that will be shown live on the Internet.

The Missouri Joint Municipal Electric Utility Commission is selling $158 million of power refunding bonds tied to the controversial Prairie State coal plant, which recently won a round of fresh praise from ratings analysts.

Chicago is almost $400 million underwater on 24 swaps tied to $2.4 billion of floating-rate general obligation and revenue-backed paper, the city reports in a new disclosure.

The Chicago school district fell to the last rung above junk bond status after a two-notch downgrade from Moody's Investors Service.

Hutchinson, Shockey, Erley & Co. has hired longtime Chicago public finance banker Doug DeAngelis from Fifth Third Securities to act as national public finance director and re-open its Chicago public finance office.

The Chicago Park District's tight governance link to Chicago is taking a toll on the district's credit rating hit with a Moody's downgrade this week.

Chicago is making headway on gaining relief from $60 million in swap termination payments owed to banks after Moody's Investors Service downgraded its general obligation credit last week, according to Mayor Rahm Emanuel's administration.

JPMorgan, ranked second among senior managers last year, is losing about six mid- and senior level public finance bankers through a mix of departures, retirements, and one cut, according to industry sources.

Unions have weighed in with their brief as the Illinois Supreme Court prepares to hear oral arguments March 11 in the state's appeal of a lower court ruling voiding the legislative package that cut benefits for four of the state's five pension funds.

Chicago's latest rating downgrade paints the city further into a financial corner; Moody's Investors Service dropped the Windy City one notch to Baa2 from Baa1.

Moody's Investors Service delivered a blow to Chicago, downgrading the city one notch to Baa2 and maintaining a negative outlook, citing daunting pension obligations.

Litigation seeking to block Chicago from implementing its 2014 pension reforms until a legal challenge is decided was put on hold at the plaintiffs' request.

Standard & Poor's is warning that Chicago's "surprise" mayoral runoff could delay the city's response to a looming $550 million to $600 million hike in its public safety pension payments.

The Chicago Public Schools is seeking board approval to tinker with $700 million of debt in its portfolio.

Chicago Mayor Rahm Emanuel faces a run-off against his top challenger Jesus "Chuy" Garcia after failing to capture a majority of the vote in Tuesday's mayoral contest.