Illinois

Illinois acted within its sovereign authority when it passed last year's pension reforms given its precarious fiscal condition and the size of its unfunded pension obligations.

Fitch Ratings and Standard & Poor's weighed in Thursday saying an Illinois judge's decision to temporarily halt implementation of the state's pension overhaul during a legal challenge does not pose an immediate credit concern.

An Illinois state court judge on Wednesday agreed to temporarily halt the June 1 effective date of state pension overhaul legislation passed last December.

Standard & Poor's dropped Centegra Health System in Illinois' rating by one level to BBB ahead of its nearly $200 million sale of debt through a public offering and direct bank placements.

A declining number of Midwestern high school graduates is adding to already highly competitive environment further straining the region's small colleges, according to Moody's Investors Service.

The independent Minnesota-based financial advisory firm Ehlers expanded its Chicago presence by hiring of Jennifer M. Tammen and Adrienne J. Archia in its Lisle, Ill., office.

The Illinois Sports Facilities Authority has selected Barclays and Goldman Sachs as bookrunning senior managers on a refunding deal it hopes to sell in June.

Indiana and Illinois have finalized a bi-state development pact for the proposed Illiana Corridor toll road that commits the two states to a combined funding contribution of up to $350 million.

Chicago Public Schools plains raise its capital spending next year to install air conditioning in schools, build a new selective enrollment high school named for President Obama, and finance other upgrades as it continues to struggle with its budget.

Madison-based University of Wisconsin Health and Illinois-based SwedishAmerican Health System announced plans to merge.

Chicago-based Mesirow Financial elevated David Johnson to head of its public finance group, replacing Steve Hoopes.

The Illinois State Toll Highway Authority plans to sell $450 million of new money revenue bonds on Wednesday for projects in its ongoing $12 billion, 15-year capital program.

A proposal for $100 million in state capital funding assistance to help lure the Obama Presidential Library to Chicago is advancing through the Illinois General Assembly.

The Chicago City Council approved up to $1 billion of new money and refunding water revenue and wastewater revenue bonding.

Chicago is prepping up to $1 billion of borrowing under its wastewater and water credits that have escaped the battering seen by its general obligation rating over its pension strains.

Illinois Gov. Pat Quinn raised the idea of sharing more state income tax revenue with local governments to help them stabilize their local pension systems without hitting homeowners too hard on their property tax bills.

Chicago announced Friday that the CTA has secured a $79 million transportation Infrastructure Finance and Innovation Act loan to help fund a new $240 million 95th Street Terminal on a Chicago Transit Authority light-rail line.

Illinois received $2.2 billion of orders from 54 investors on its $750 million general obligation bond sale Thursday as its yield penalty widened just slightly from a sale earlier this month.

Municipal bond buyers trapped in a low-supply market this month are hoping $750 million of Illinois bonds scheduled for sale Thursday will present an opportunity for some yield.

Chicago needs Illinois Gov. Pat Quinn to sign legislation overhauling two of its pension funds so it can move on to a more elusive fix for its other two funds, the city's Chief Financial Officer Lois Scott said Wednesday.