Illinois

Kutak Rock LLP has added veteran public finance attorney Debbie Boye to its Chicago team.

Leaving a temporary 2011 income tax hike in place combined with a December pension overhaul would put Illinois in position to stabilize its deteriorated credit, Moody's Investors Service said in a new commentary.

Standard & Poor's has revised its outlook on Rush University Medical Center Obligated Group’s A rating to positive from stable.

The Chicago Infrastructure Trust is conducting an open bidding process for proposals to finance energy upgrades to pools operated by the Chicago Park District and Chicago Public Schools.

Illinois will return to the market Thursday with a $750 million general obligation sale hoping to capitalize on good market conditions and the same improved investor appeal that lowered borrowing costs on an issue earlier this month.

At a hearing supporters of a Chicago casino and expanded gambling statewide touted them as salve for the city and state's fiscal ills while opponents warned of over saturation and higher crime and addiction problems.

With Chicago and other local governments worried over the weight of pension obligations, the Civic Federation of Chicago is promoting creation of an authority designed to intervene with municipalities before deep fiscal strains reach a crisis stage

Citi has hired Chicago-based public finance banker Samantha Costanzo away from Jefferies to serve as a co-head of the Midwest region.

An income tax surcharge on income over $1 million won't appear on Illinois' November ballot after its sponsor decided to yank it from consideration.

Illinois sold $250 million of general obligation bonds Thursday in a competitive sale that saw some further narrowing of the state's interest rate spreads.

Chicago-based William Blair & Co. is bolstering its sales and trading group in Chicago and California and making a push into the Los Angeles market with a new office staffed with veterans from De La Rosa & Co. led by Christopher Tota.

After Illinois lawmakers approved overhauling two of Chicago's pension funds, Cook County President Toni Preckwinkle said she was poised to unveil her own reform plan for her county's troubled fund.

Chicago's plan to overhaul two of its four pension funds removes the threat of looming insolvency but any notable reduction in the burdensome size of their liabilities is years off, Fitch Ratings said.

Illinois' future credit standing hangs in the balance as state lawmakers weigh the 2015 budget and whether to accept Gov. Pat Quinn's recommendation to make permanent an expiring income tax hike, Standard & Poor's said in a special commentary.

The Illinois Legislature approved legislation overhauling two of Chicago's four troubled pension funds after Mayor Rahm Emanuel bowed to critics' concerns and yanked language that mandated property tax hikes.

A hike in Illinois' motor fuel tax and vehicle registration fees could help raise an additional $1.8 billion of annual revenue for transportation under a proposal announced by an Illinois coalition.

Moody's Investors Service boosted Advocate Sherman Hospital's rating by one level to Baa1 in recognition of its acquisition by the fiscally healthier Advocate Health Care Network last year.

Chicago dropped a controversial provision mandating large property tax hikes to fund at least half of its share of increased pension contributions to get legislation overhauling two of its four pension fund back on track.

Illinois Gov. Pat Quinn’s running mate Paul Vallas is joining the municipal restructuring and consulting firm headed by Illinois Finance Authority board chairman and Quinn campaign contributor Bill Brandt.

Chicago-based Wintrust Wealth Management has hired veteran municipal professional Tom Greene to lead its institutional municipal bond desk.