Illinois

Gov. J.B. Priztker touted the state's fiscal progress in his combined budget and state of the state speech.

Fitch Ratings received enough inquiries over S&P's action — slashing a Chicago suburb's GO rating by seven notches — that it put out a special commentary outlining differences between the two agencies' analytical approach even though Fitch does not rate the village under scrutiny.

Midwest borrowing last year went from 11% year-over-year growth in the first quarter to a 48% plunge in the fourth quarter.

Changes to the district's pension code now enshrined in state law put it on a path to full funding in 30 years after voters approved a property tax levy hike.

Plaintiffs who challenged the legislation plan to ask the Illinois Supreme Court to hear the case. Meanwhile, the consolidation process has moved forward and the majority of funds have transferred their assets.

Citigroup's cuts included veteran public finance banker Thomas Coomes, who had co-led the bank's Midwest region.

Laurence Msall who built the Chicago Civic Federation into a fiscal research powerhouse over the last two decades, died Saturday at 61.

Illinois' net position for governmental activities remains deep in the red but after years of falling further behind, it trimmed the gap in fiscal 2022.

Bolingbrook called the GO cut to BBB-plus from AA an attempt "to cause a de facto conversion" of a special sales tax district's debt to a general obligation.

Mayor Lori Lightfoot, in a reelection fight, highlights first-term progress including lifting the city's bond ratings and bringing new investors to debt sales.

Ceffalio is taking on a newly created position at the Chicago-based firm.

The city received $217 million of retail orders — a rarity in Illinois where local bonds don't benefit from state tax exemption — and interest from 11 ESG funds.

The complex restructured its debt through bankruptcy in 2018 but COVID-19 knocked its recovery off track.

While the legislation heading to Gov. J.B. Pritzker's desk will not affect CPS' rating in the short-term, the district's ability to manage labor conflict could affect credit quality over time, Fitch said.

Chicago put out pre-marketing pricing scales Tuesday on its STSC new money social bonds and refunding tranches and will take retail orders Wednesday with the pricing set for Thursday.

The CTA and its fiscal parent, the Illinois RTA, will try to build a coalition for future funding to face the fiscal reckoning after federal COVID-19 aid ends.

Illinois Gov. J.B. Pritzker signed legislation sending a portion of the state's surplus to the budget stabilization fund and raising the target balance.

Chicago returns to the market later this month with a deal under its Sales Tax Securitization Corp. credit that will offer the city's first social-designated bonds along with a refunding piece that includes the paydown of GO bonds through a tender.

The Greater Chicagoland Economic Partnership said it will leverage the region's first-rate freight infrastructure, talent, industries and institutions.

The double-A rated toll agency has two new money toll revenue bond deals on tap for 2023, totaling $900 million.