Illinois

Two Chicago-based health systems — Alexian Brothers Health System and Adventist Midwest Health — intend to join forces to create a joint operating company with a combined nine hospitals.

The Chicago Infrastructure Trust has begun negotiations with private partners, advancing plans to finance energy upgrades to as many as 141 city pools, and is eyeing a Property Assessed Clean Energy program.

Scant supply and a double-A level rating should help offset investor penalties imposed on the Chicago name when the Chicago Transit Authority sells $555 million of sales tax bonds Wednesday, several market participants said

Bruce Rauner, Republican candidate for Illinois governor, outlined plans to cut $1 billion in spending to help balance the state's books without revenues from an expiring income tax hike.

The Chicago Transit Authority has received a first time rating from Kroll Bond Rating Agency of AA on its upcoming sale of nearly $600 million of sales tax backed revenue bonds to fund capital projects.

Illinois Gov. Pat Quinn signed legislation Monday overhauling two of Chicago's struggling pension funds.

After a national search Columbia College Chicago has hired Michelle Gates to serve as president for business affairs and chief financial officer.

Moody's Investors Service has downgraded Illinois-based Presence Health's rating one level to Baa2 due to ongoing operating pressures.

Chicago is awaiting word by a Monday deadline for Gov. Pat Quinn to act on legislation approved this spring overhauling two of the city's struggling pension funds.

The Chicago Park District is headed into the market with a $208 million new-money, refunding, and restructuring sale that helps lay the ground work for covering higher future pension contributions.

The Illinois General Assembly's failure to extend the 2011 income tax hike ahead of its partial expiration next year could negatively pressure the state's already weak credit rating, Moody's Investors Service warned.

While a new budget took center stage, Illinois lawmakers also capped their recent session with an expansion of infrastructure programs and passage of an overhaul for some Chicago pensions.

Local Michigan general obligation bonds and Chicago debt represent pockets of risk in an otherwise-improving municipal bond market, Charles Schwab said Friday.

A bill to overhaul Cook County troubled pension funds died in the Illinois House on Friday, the same day that Fitch Ratings revised its outlook on the county's forest district to negative, due chiefly to pension challenges.

Illinois lawmakers wrapped up their spring session with passage of a new $1.1 billion capital plan for transportation projects and a $35.7 billion operating budget that relies on -one time fiscal maneuvers.

Moody's Investors Service revised its outlook on Illinois Wesleyan University's Baa1 rating to positive due to its improved operating performance.

A power generating unit at the mostly bond-financed Prairie State Energy Campus in Illinois was damaged but the operating company said it should come back online by summer.

Illinois' expected passage of a compromise budget that doesn't extend an expiring income tax hike and relies on one-shots to avoid deep cuts won't sit well with investors or rating agencies, market participants said Wednesday.

A last-minute measure to overhaul Cook County, Ill.'s troubled pension system sailed through the state Senate Tuesday just hours after it was introduced, and now heads to the House.

The Illinois General Assembly entered the final week of its spring session with the Democratic leadership focused on a budget that doesn’t rely on revenue from an expiring tax hike but also lacks deep cuts rejected by the House last week.