Illinois

Litigation challenging Chicago's pension reform legislation threatens the city's ability to escape $19 billion of unfunded liabilities, Fitch Ratings said.

Illinois Gov. Pat Quinn will call lawmakers back to work on Jan. 8 to take up legislation setting a special election to allow voters to pick a replacement to serve out the late Judy Baar Topinka's term that begins next month.

Moody's Investors Service assigned a negative outlook to Batavia, Illinois electric system revenue bonds citing weakened coverage levels and concerns over political will to raise rates tied to its participation in the Prairie State coal-fired project.

A group of Chicago unions, employees and retirees sued Tuesday to overturn pension reforms approved earlier this year, a move that threatens to reverse strides in stabilizing two of the city's four pension funds and the city's credit ratings.

Ohio-based American Municipal Power Inc. – the largest public owner of the bond-financed Prairie State Energy Campus – plans to refund up to $646 million of debt tied to the controversial project that has angered some local municipal participants over its higher energy costs.

Illinois Gov.-elect Bruce Rauner has the legal authority to appoint a replacement to serve out the upcoming term of the late Comptroller Judy Baar Topinka, but Illinois lawmakers should hand the decision over to voters in 2016, Attorney General Lisa Madigan said.

The federal government has given Illinois and Indiana the go ahead to advance plans for a more than $1 billion bistate toll road both states hope to build with financing from a public-private partnership.

A federal judge in Chicago has signed off on Harvey, Ill.'s settlement with the Securities and Exchange Commission over charges it misled investors by diverting bond proceeds from their intended use.

The Metropolitan Water Reclamation District of Greater Chicago will bring as soon as Monday a $300 million sale that offers a mix of refunding securities and new-money designated as "green bonds" to fund projects including the mammoth deep tunnel project.

The Illinois Supreme Court agreed Wednesday to an expedited review of Illinois' appeal of a lower court ruling overturning state pension reforms.

The Illinois Finance Authority board signed off Rush University Medical Center $600 million refunding and issues that will help finance Chicago Navy Pier's big overhaul and finance construction of a compressed natural gas station for Pace suburban bus service.

Illinois Comptroller Judy Baar Topinka, admired across party lines for her blunt nature and down-to-earth style, died early Wednesday after suffering a stroke. She was 70.

A profound shift in debt management and the control of a handful of state related agencies with bonding powers may lay ahead for Illinois as the state ushers in its first Republican governor in 12 years.

Moody's Investors Service has shifted its outlook to positive from stable on Illinois-based Blessing Hospital's A3 rating in recognition of strong growth on its investments.

The city of Harvey, Ill., has agreed to settle Securities and Exchange Commission charges that it misled bond investors by diverting proceeds away from the projects for which they were intended.

Strong double-digit investment returns in fiscal 2013 couldn’t stave off funding deterioration for some of the 11 pension funds that cover Chicago area governments and local government employees throughout the state.

Moody's Investors Service Monday revised its outlook to stable from negative on two Illinois-based health systems in recognition of the benefits of their year-old move to join forces.

The Metropolitan Pier & Exposition Authority signed off a $564 million contract to design and build a new convention center hotel and events center that will house an arena for DePaul University's Blue Demons basketball team.

Illinois-based Advocate Health Care Network is planning a refunding in the coming weeks of up to $365 million.

The Illinois State Toll Highway Authority returns to the market Tuesday with a $270 million senior lien revenue bond sale for savings.