Illinois

The nation's largest nonprofit health care provider has extended its reach into the Chicago-area market with the acquisition of a suburban hospital chain.

Michigan-based Trinity Health, one of the nation's largest Catholic health care systems, will invest up to $150 million over the next five years as part of its acquisition of Mercy Health System if the deal is approved by an Illinois review board.

Growing unfunded pension liabilities and poor fund-balance levels are common challenges among many of the nine Chicago-area local governments whose finances are scrutinized by the Chicago Civic Federation.

Moody’s Investors Service has affirmed Roosevelt University’s Baa2 rating, but analysts revised the outlook to negative from stable, partly because of recent enrollment challenges and stagnant tuition growth.

A Cook County Circuit Court judge last week dismissed a lawsuit challenging the Illinois State Toll Highway Authority’s steep increase in tolls that will take effect Jan. 1 to fund a $12 billion capital program.

The Lombard, Ill., Village Board will vote at a meeting late Tuesday on an appropriation of nearly $1 million to cover a shortfall in the Jan. 1 debt service payment owed on its conference center and hotel debt.

Illinois will kick off the new year with a competitive general obligation issue on Jan. 11 of between $500 million and $750 million to fund its ongoing public works program.

Moody's Investors Service has lowered its rating to Baa3 from Baa2 on Anderson Hospital due to its weakened financial performance. The action affects $33.9 million of rated debt sold through the Southwestern Illinois Development Authority.

Chicago Mayor Rahm Emanuel said city departments have exceeded the $75 million budgetary savings goal he set for 2011 after taking office in May.

The Illinois State Toll Highway Authority board has adopted a $609 million budget for 2012 that anticipates $200 million in toll-backed borrowing as the agency embarks on its $12 billion, 15-year capital program to maintain and expand the 286-mile system.

One day after Illinois lawmakers passed more than $300 million in tax relief to keep several companies from moving jobs out of the state, the top House Republican on Wednesday proposed legislation that would speed up the expiration of the corporate income tax hike driving company threats to flee.

The Illinois Finance Authority board advanced about $600 million of borrowing planned by the University of Chicago, Children's Memorial Hospital, and others before the end of the year and into 2012.

Chicago Mayor Rahm Emanuel has appointed a task force charged with reviewing the city’s existing ethics ordinance and recommending changes aimed at strengthening it and giving it teeth.

Standard & Poor’s downgraded the underlying rating of the Chicago Housing Authority’s 2006 capital revenue refunding bonds one notch to AA-minus because of lower debt service coverage ratios from federal funds.

The Chicago organization Women in Public Finance will recognize three women — Chicago's chief financial officer, Columbus' assistant auditor, and a public finance banker and financial advisor — at its sixth annual founders awards next month.

Standard & Poor’s revised its outlook to stable from negative on the Southern Illinois University Board of Trustees’ A-plus due to improved operations.

In response to Fitch Ratings’ revision of its outlook on O’Hare International Airport’s general airport revenue bonds to negative, Chicago aviation officials said they are confident the airport’s position as a key hub for bankrupt American Airlines will limit any service cuts as the carrier reorganizes.

CHICAGO — The Illinois General Assembly wrapped up a special, one-day veto session this week after approving budget changes that will allow seven state facilities to remain open while shooting down a $200 million to $250 million tax relief package that included breaks for companies threatening to leave the state.

Moody's Investors Service has downgraded Hospital Sisters Services Inc.'s rating by one notch to A1 due to sizeable operating losses at the Springfield, Ill.-based system.

The Illinois Housing Development Authority said it would use proceeds of its recent sale of $33.4 million of tax-exempt housing revenue bonds to finance four affordable multifamily developments.