Illinois

Rising interest rates and lagging economic growth sidelined borrowers in the Midwest where issuance dipped by 12% to $34 billion during the first half of 2013 compared to the same time last year.

Illinois Gov. Pat Quinn has announced more than $70 million in capital grant funding for 115 hospitals across the state.

Moody's Investors Service hit seven of eight Illinois public universities with a downgrade Friday including the flagship University of Illinois in action that cuts more than $2 billion of rated debt primarily over exposure to the state's fiscal woes.

Standard & Poor's has pushed Proctor Hospital's rating deeper into junk bond territory, lowering it to BB-minus from BB-plus and warning of the potential for further deterioration by assigning a negative outlook due to its poor cash position.

The five issuers can redeem a total of $128.44 million because sequestration-imposed cuts in the federal subsidy payments they receive triggered extraordinary redemption provisions.

The City Colleges of Chicago has picked a banking team led by Jefferies for its inaugural sale of $250 million of debt that's on track to sell in September or October.

Chicago leaders faced bond investors and analysts in the week after a three-notch downgrade to the city's debt and after Detroit's bankruptcy raised fears about big-city finances, debt and pension funding.

Illinois Gov. Pat Quinn announced $55 million in grant funding from the state's capital budget for 27 Chicago area colleges and universities.

Chicago heads to market Tuesday with a $247 million O'Hare International Airport borrowing to help finance a consolidated car rental center that's part of an $800 million multi-modal transportation facility.

Chicago faces a $339 million gap in its next budget before its financial reckoning arrives the following year when public safety pension payments will spike by $600 million, according to new budget estimates.

Illinois-based Advocate Health Care Network enters the market Thursday to raise nearly $100 million of new money for projects at three of its Chicago area hospitals.

Kutak Rock LLP is adding Lance Tyson, who is returning to the firm after a 10-year absence during which he operated his own law firm and served as chief of staff to the former Cook County, Ill. Board president.

Illinois' House Speaker and Senate President filed a lawsuit against Gov. Pat Quinn Tuesday challenging his move to stop paying lawmakers in an attempt to pressure lawmakers to pass pension reforms.

The Indiana Attorney General last week said he would not investigate the controversial $4.5 billion bond-financed Prairie State Energy Campus located in southern Illinois.

Chicago retirees who stand to lose their city-subsidized healthcare under Mayor Rahm Emanuel's plan to dismantle the existing program and move them to health insurance exchanges are firing back, suing to hold on to the benefit.

Illinois Gov. Pat Quinn has signed legislation that paves the way for the use of public private partnership to build the long-planned third Chicago regional airport in the far southwest suburbs.

The Illinois state auditor found "pervasive" management problems and troubling fiscal operations at the Illinois International Port District in a review that covered 2010 and 2011.

A judge last week ordered Cook County, Ill. to stop collecting a new tax that the county began to levy last year to help offset a 2013 budget deficit.

Illinois Comptroller Judy Baar Topinka said state lawmakers won't be paid next month unless they pursue a legal challenge or override Gov. Pat Quinn's action stripping their pay authorization out of the fiscal 2014 budget.

After downgrading Chicago and its school system over mounting pension woes that along with their long-term debts burden the same tax base, Moody's Investors Service took aim at the Chicago Park District.