Illinois

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.

An Illinois committee tasked with crafting a pension overhaul holds its first public meeting, while the Gov. Pat Quinn says the state's $1.3 billion GO sales demonstrates the price of its bad credit ratings.

Illinois' weakened fiscal condition and battered ratings translate in steep borrowing penalties but won't lead to a default any time soon, a new academic research paper asserts.

Illinois Gov. Pat Quinn and Indiana Gov. Mike Pence opened a forum aimed at luring private contractor and investment interest in a proposed $1.3 billion expressway linking the two states.

A pension reform plan endorsed by leaders of Illinois' public universities and touted as a potential model for an overhaul of the state's other funds received a hearing last week.

Illinois Comptroller Judy Baar Topinka has asked the state Attorney General to investigate Washington Park due to its failure to submit annual financial reports for the last seven years.

The Illinois debt manager and finance team have met with more than 100 investors over the last week ahead of a $1.3 billion general obligation sale into a jittery market.

Illinois' overall fiscal health reflected in the value of its net assets worsened in fiscal 2012 by $3 billion, pushing it to a negative $46.6 billion, although the pace of deterioration slowed.

Illinois Gov. Pat Quinn wants legislative action on a pension reform bill by July 9, giving the conference committee set up Wednesday three weeks to fashion a package.

Illinois lawmakers convene a special session on pension reform Wednesday but the only action expected is the formation of a special conference committee to fashion a compromise plan.

Moody's Investors Service pushed the struggling Proctor Hospital's rating further down into junk bond territory, lowering the Illinois hospital three levels and warning of further deterioration.