Illinois

Chicago O'Hare International Airport's new customer facility charge bond credit established to help finance a consolidated car rental center received a first-time rating of Baa1 from Moody's Investors Service.

Moody's Investors Service has dropped Macon County School District 61 in Decatur's general obligation rating by two notches to A3 and warned of further action by assigning a negative outlook over its fiscal woes.

Chicago should declare a tax-increment financing surplus to free up some TIF revenue for the Chicago Public Schools as it grapples with a $1 billion deficit in its fiscal 2014 budget, Cook County Clerk David Orr urged.

The Chicago Landmarks Commission has signed off on the Chicago Cubs proposal to install large outfield video screens at Wrigley Field as part of its $500 million privately financed plan to renovate the landmark ballpark.

The City Colleges of Chicago's proposed $657 million fiscal 2014 budget won the endorsement of the Civic Federation of Chicago for ongoing progress toward improving its fiscal and operational health.

Illinois finished fiscal 2013 owing $1.4 billion less than it did in fiscal 2012, but still faces a backlog of $6.1 billion of bills.

Illinois Gov. Pat Quinn Wednesday said he was writing lawmakers' pay out of the new fiscal 2014 budget until they send him a comprehensive solution to address the state's $95 billion pension liability.

Louisville, Ky.-based Hilliard Lyons has hired former Cook County chief financial officer and former Chicago comptroller Tariq Malhance to lead its public finance banking efforts in the Chicago region and Illinois.

A new analysis warns of that local governments in Cook County face a debt burden of $34 billion, the bulk of that coming from Chicago and from unfunded retiree benefits.

A special Illinois legislative committee tasked with breaking a logjam on pension reform pushed back against Ill. Gov. Pat Quinn for pressuring the group to complete its work as he threatened lawmakers with unspecified "consequences" if they fail to meet his Tuesday deadline.

Moody's Investors Service hit Rock Island County Metro Mass Transit District in Illinois with a one notch downgrade to Aa3 over the district's heavy reliance on aid from the struggling state to cover operations and debt service.

Ill. Gov. Pat Quinn has signed legislation that lays the groundwork for Mayor Rahm Emanuel's plan to eventually eliminate healthcare subsidies for many retirees as the city seeks to shed a rising expense.

The head of a special Illinois legislative committee assigned to solve the state's pension quagmire said the group expected to take initial steps toward crafting a framework for a reform plan.

The Illinois State Toll Highway Authority plans to enter the market with a roughly $425 million fixed-rate refunding of toll-backed revenue bonds in a deal scaled down due to rising interest rates.

The city of Evanston, Ill. lost its coveted Aaa rating last week when Moody's Investors Service downgraded it to Aa1 in light of the city's large pension liability.

Illinois ended fiscal 2013 Sunday with a bill backlog of $6.1 billion with the state making a $1.5 billion dent in its payables over the previous year.

The Chicago-based Poetry Foundation won a Moody's upgrade in recognition of the successful completion of its new headquarters with little impact on its strong balance sheet.

A special Illinois legislative committee charged with solving the state's pension crisis meets again Wednesday after a hearing provided little indication of how it would accomplish its task.

Cook County, Ill. faces a projected $152 million shortfall next year, according to the preliminary 2014 budget released Thursday by Cook County Board President Toni Preckwinkle.

Chicago officials blamed state inaction on pension reform for Fitch Ratings' move to put the city's AA-minus general obligation and sales tax ratings on negative watch.