Illinois

The Regional Transportation Authority of Illinois has hired former Chicago revenue director Bea Reyna-Hickey as its CFO, filling the position left vacant by Grace Galluci's departure to run the Northeast Ohio Areawide Coordinating Agency.

Chicago enters the market with $270 million of second lien wastewater revenue bonds Thursday in a deal to raise funds for the city's ramped up efforts to upgrade its aging sewer systems.

Moody's Investors Service downgraded to A1 from Aa3 its rating on the Kendall County Forest Preserve District's general obligation debt based on narrow general-fund reserves and use of one-time revenues to cover operating deficits.

The Chicago Infrastructure Trust board last week approved bylaws that open up its activities and books to the city’s inspector general.

Local communities in eight states with a stake in the controversial mostly bond-financed Prairie State Energy coal project in Illinois could face fiscal stress due to the higher than projected rates they are paying and future financial risks, a new report from an pro-environmental group warns.

Illinois' battered credit took another blow Wednesday as Standard & Poor's lowered the state's general obligation rating one notch to A as the state struggles with legislative gridlock on pension reform and ongoing budget woes.

Moody’s Investors Service has stripped the village of Matteson, Ill., of its investment-grade rating as it grapples with a sharp deterioration of its fiscal position.

The Rockford School District will ask voters on the November ballot to approve new borrowing to support a $311 million, 10-year capital program needed to upgrade aging schools.

Illinois Gov. Pat Quinn on Tuesday vetoed a controversial gambling expansion bill that would have authorized five new casinos and allowed slots at racing tracks.

City Colleges of Chicago has tapped Chicago Public Schools' deputy chief financial officer Melanie Jopek Shaker to shepherd its finances as it embarks on capital program.

Moody's Investors Service on Thursday weighed in on Illinois' failed special session on pension reform, warning that ongoing inaction is a drag on the state's credit due to the strain on its balance sheet.

The Illinois State Toll Highway Authority board on Thursday approved new pools of underwriters as it gears up to enter the market with a roughly $200 million issue to launch a $12 billion, 15-year capital program.

The Chicago Board of Ed adopted a $5.2 billion fiscal 2013 operating budget that drains most of its reserves to help close a $665 million deficit with big pension payment hike looming and teacher demands for bigger raises.

Moody’s Investors Service has revised its outlook on the OSF Healthcare System’s A3 rating to positive from stable in recognition of improved operating performance and market share.

Legislators failed to take action during a one-day special session Friday to pass pension reforms to bring down the state's $83 billion liability, considered the worst among states.

Legislators will hold a one-day special session Friday to try to pass pension reforms to bring down the state’s $83 billion liability, considered the worst among states.

Four bond-financed health care projects totaling more than $900 million won approval from the Illinois Finance Authority Tuesday, clearing the way for three of the issuers to head to market next month.

Illinos Gov. Pat Quinn last week signed legislation extending special taxing districts known as enterprise zones for 25 years.

Chicago may have chipped away at its structural budget gap this year, but fiscal stress looms in the coming years as debt service and pension costs rise along with health care and other personnel costs.

The Chicago Board of Education will sell $500 million of general obligation bonds next week for hoping the strong municipal market will cushion the blow of two rating downgrades on its borrowing costs.