Illinois

Illinois Gov. Pat Quinn outlined plans to spend $12.6 billion over the next six fiscal years on transportation and said more spending and borrowing for capital projects is needed.

Moody's Investors Service has placed the general obligation bond ratings of 29 local governments and school districts including Chicago, Cincinnati, and Minneapolis on review for possible downgrade due to its new methodology for analyzing public pension liabilities.

Chicago officials reported that hotel occupancy last month hit a record level for a March, helping bring first quarter results to levels not seen in five years.

Major League Baseball's Chicago Cubs would privately fund an overhaul of the 99-year-old Wrigley Field and construction of an adjacent hotel and plaza under a tentative $500 million plan.

Siebert Brandford Shank & Co. LLC has hired the Chicago Transit Authority's former chief financial officer Karen Walker to lead its Chicago office.

The Illinois Supreme Court agreed Thursday to hear a direct appeal of a Circuit Court decision leaving intact a state overhaul of retiree health care benefits.

The Rehabilitation Institute of Chicago plans to sell up to $450 million of new-money and refunding bonds as it finalizes financing plans for a $550 million replacement facility.

Instead of repealing the tax-exempt status, we need to rebuild the economy by reinvesting in our infrastructure that will ultimately create jobs. One of the best ways to do this is through low-cost borrowing at the local level.

Illinois Gov. Pat Quinn announced plans to launch a social impact bond program, an alternative financing mechanism that taps private investment to fund social services goals.

The Illinois State Toll Highway Authority will sell $500 million of toll-backed revenue bonds next week in the agency's first market outing as it embarks on a $12.1 billion, 15-year capital program.

Edward Hospital & Health Services and Elmhurst Memorial Healthcare formally decided to merge to create one system with more than $1 billion in annual revenues.

The Chicago Infrastructure Trust received responses from 13 financial firms or groups in its first solicitation of private market interest in funding up to $100 million of energy efficiency upgrades to city facilities and schools.

Cook County's new CFO Ivan Samstein takes the helm as the nation's second-largest county continues to struggle with revenue declines and other challenges.

Illinois held its ground with the market Tuesday as it completed an $800 million general obligation issue that captured yields in-line with the interest rate penalties assessed in secondary market trading.

Cook County began imposing a $25 tax on all firearms starting Monday as part of the county’s 2013 budget.

The U.S. Department of Transportation has invited Chicago to submit its formal application for a $100 million TIFIA loan to help finance completion of the Chicago Riverwalk.

With nearly $500 million in spring transportation projects planned, Illinois will sell $800 million of debt Tuesday after a two-month delay in the state's first bond offering of the year.

Moody's Investors Service called an Illinois judge's dismissal of litigation challenging the state's retiree healthcare reforms a credit positive for the state.

Chicago Public Schools plans to shutter more than 54 of its 681 schools, a move defended by district leaders as needed to "right-size" and stabilize over the long-term a financially strapped system strained by a looming $1 billion deficit.

Pension reform proposals advanced in the Illinois General Assembly this week ahead of a spring recess, offering signs of progress while also raising questions over the prospects for a major overhaul that could spare the state further rating downgrades.