Illinois

Illinois officials are traveling to share its newly available savings numbers for the state's pension overhaul, and other fiscal news, with investors ahead of $1 billion general obligation sale next week.

The Illinois State Toll Highway Authority kicks off its New Year with a long planned $400 million refunding that will be followed in late winter with new-money borrowing to support an ongoing $12 billion program.

Moody's Investors Service has revised its outlook to stable from negative on Springfield, Ill.'s A1 rating.

The Chicago Infrastructure Trust's inaugural financing had to shrink to $13 million from $27.5 million and alter other terms to reduce investor risk in order to secure a lender.

Six firms have responded to Indiana's request for qualifications to partner with the state for the $1.3 billion Illiana Corridor toll road connecting Indiana and Illinois, officials said Tuesday.

Cook County, Ill. is coming to market Thursday with $130 million of refunding bonds, marking the largest general obligation bond offering from an Illinois issuer so far this year.

Lombard, Ill. faces the possible loss of its investment grade ratings for failing to honor its appropriation commitments and triggering payment default on hotel conference center bonds.

Illinois released new pools of underwriting, financial advisory, and legal firms for bond sales over the next two years with the most notable change being the state's selection of a new sole bond and disclosure counsel.

Illinois finance officials plan to hit the road later this month to meet with investors and rating analysts ahead of a $1 billion general obligation sale set for early next month.

Veteran Chicago-based public finance attorney Chuck Katz has joined Polsinelli PC as the firm continues to build its business nationally across legal practices.

Illinois' balance sheet remains strained with a more than $4 billion deficit looming in the coming years as the expiration of a temporary income tax hike saps revenues.

Illinois Gov. Pat Quinn signed into law pension reforms aimed at stabilizing the Chicago Park District's struggling system; other local governments including Chicago are hoping for similar legislation this year.

Three complaints have been filed challenging the constitutionality of the pension overhaul Illinois passed in December, and others are expected to follow ahead of the law's effective date in June.

The University of Chicago was among six institutions to which the not-for-profit Ludwig Cancer Research organization awarded $540 million grants to fund cancer research.

The cash-strapped Chicago Public Schools announced plans to relocate its administrative headquarters later this year in a move estimated to save $60 million over the next 15 years.

Moody's Investors Service revised the outlook on Illinois-based Memorial Health System's A1 rating to negative from stable ahead of its sale of $60 million of revenue bonds.

A group of retired teachers and school officials launched the first legal challenge to Illinois' controversial pension reform law, claiming it is unconstitutional.

The Chicago Infrastructure Trust has delayed to January from December the timeline for bringing its inaugural deal to the City Council for approval.

Former Ohio Deputy Treasurer Amer Ahmad, recently Chicago's comptroller, pleaded guilty in federal court to charges he orchestrated a kickback scheme involving state investment business.

The Lombard, Ill., village board rejected a request to cover a shortfall in the January debt service payment on bonds issued for a hotel and conference center.