Illinois

Moody's Investors Service lowered Roosevelt University's rating one notch to Baa3 as the Chicago-based school struggles with enrollment challenges.

Moody's Investors Service revised its outlook on Illinois to negative from stable, the latest in a series of blows to the state's already-low credit due to its massive unfunded pension obligation.

The Illinois Finance Authority gave initial approval to a $120 million financing tied to the installation of an automated open payment fare collection system for the Chicago Transit Authority using a unique structure.

The Chicago BOE will refund $110 million of general obligation bonds for budget relief that will help fund the new teachers' contract inked earlier this year that ended its first strike in more than two decades.

Chicago's transit system needs a reliable revenue stream that provides at least $2 billion annually over multiple years, a new study warned.

The Chicago Infrastructure Trust may move next month to solicit private market interest in funding energy efficient upgrades to city facilities and public schools in what would mark the not-for-profit's first project financing on behalf of the city.

A group of Illinois House members introduced a pension reform package they hope will serve as a road map to help the state dig out from $96 billion in unfunded liabilities.

The local governments of Cook County, Ill. together face a financial burden of $34 billion from unfunded pension liabilities and other debt, according to a pair of public policy groups in Chicago.

Illinois Comptroller Judy Baar Topinka last week slammed a legislative proposal to borrow $4 billion to pay down the state’s mammoth bill backlog

U.S. Secretary of Energy Steven Chu along with Illinois Gov. Pat Quinn and Chicago Mayor Rahm Emmanuel unveiled plans for a next generation battery hub in suburban Chicago.

Moody's has assigned an issuer credit rating of Baa1 to Presence Health, the new health care system created by the merger late last year of Resurrection Health Care and Provena Health.

The federal bankruptcy court in Chicago has signed off on a suburban Chicago retirement community's reorganization plan that relies on a $90 million bond issue to restructure its $116 million 2006 issue.

Lake County, Ill., approved $90 million in borrowing to help finance its $119 million capital plan for judicial facilities, which includes construction of a new criminal courts tower.

Former Dixon, Ill., Comptroller Rita Crundwell entered a guilty plea last week to federal fraud charges for stealing $53 million in city funds since 1990 to fund a lavish lifestyle that included a quarter horse farming business.

Illinois Gov. Pat Quinn this week launched an Internet-based grassroots campaign aimed at raising public support for pension reforms.

Illinois ended the last fiscal quarter with a pile of $5.9 billion in overdue bills, $2 billion more than a year ago even though tax collections are on the rise, Comptroller Judy Baar Topinka reported this week.

Chicago Mayor Rahm Emanuel's $6.5 billion 2013 budget easily won City Council approval as most members praised the plan for holding the line on taxes while holdouts voiced misgivings over police staffing and revenue projections.

The health of Illinois' pension system continued it downward spiral in the last fiscal year when unfunded liabilities rose by more than $11 billion and the funded ratio deteriorated to 40.4%, according to the Civic Federation of Chicago.

The Illinois Finance Authority advanced $430 Million in deals for projects planned by the University of Chicago Medical Center, Advocate Health Care Network, the Franciscan Communities, and the Big Ten Conference.

Standard & Poor's has lowered Centralia, Ill.'s general obligation rating by one notch to A-minus as the city grapples with red ink.