Illinois

The proposed spending plan includes the first chunk of money from the city's new casino, which will support underfunded police and fire pensions.

The total unfunded pension liability for all 50 states is expected to be $1.3 trillion for fiscal 2023, according to a Reason Foundation analysis.

Mesirow's public finance group will collaborate with the firm's institutional sales and trading team to offer clients defeasance and cash-flow management for their portfolios.

Mayor Brandon Johnson is set to unveil a spending blueprint with new revenue proposals next month.

The state in 2010 sold $1.5 billion of bonds backed by payments from a master settlement agreement with tobacco firms and used the proceeds to pay overdue bills.

"In the coming weeks, we will be taking a much closer look at the challenges we face and how we will address those challenges reasonably and responsibly," said Mayor Brandon Johnson.

The authority approved $1.3 billion in conduit financings at its meeting Tuesday.

"As an investor I'm not looking at the activity of the stadium as the security," said an Illinois sports authority bondholder of potential exits by the White Sox and Chicago Bears.

The settlement, which hinged on a successful exchange of old bonds for fresh debt, resolves long-running investor litigation.

The rating agency cited the Illinois county's accumulated reserves, as well as required pension contributions for the move.

Issuers in the Midwest sold $32.6 billion of debt spread over 1,223 deals in the first half, down from $40.5 billion a year earlier.

July's total volume was $25.939 billion in 542 issues, down from $28.258 billion in 619 issues a year earlier, the smallest percentage drop in monthly issuance year-over-year in 2023, according to Refinitiv data.

Her prolific coverage and willingness to share knowledge with local reporters brought transparency and accountability to Midwest public finance.

In addition to her professionalism there was a more important aspect that defined Yvette. She was simply a nice person. Always upbeat, helpful and kind.

The proposed exchange — which extends the final maturity date by two decades but offers features like a tax levy with a direct intercept and trust estate — is the cornerstone of the consent agreement the city struck with a group of 2007 bondholders

Most top 10 issuers for 1H are from New York and California, with three from New York and three from California.

Chasse Rehwinkel most recently has held the position of director of banking for the Illinois Department of Financial and Professional Regulation. 

While all four of Chicago's weakly funded pension funds hit a milestone by posting modest increases in their funded ratios in 2021, they lost ground in 2022 due to investment losses driving up the city's pension burden to $35.4 billion

Illinois Comptroller Susana Mendoza will highlight the state's progress on key fiscal metrics during upcoming meetings with the rating agencies and has updated the fiscal 2023 interim audit as the full audited results have not yet been published.

The Board of Education approved a fiscal 2024 budget amid warnings about the need for more state help to manage a gap of up to $700 million in fiscal 2026.