Illinois

University of Chicago Medicine and City of Hope are borrowing through the IFA for acquisitions that expand their footprint

Chicago's Sales Tax Securitization Corp. will sell $150 million of social bonds next month in the city's first ESG-labeled deal.

Illinois raised its fiscal 2023 revenue estimates by $3.69 billion, giving Gov. J.B. Pritzker enough to propose doubling the state's $1 billion rainy day fund.

Both S&P Global Ratings and Kroll Bond Rating Agency revised their outlooks for Chicago general obligation bonds to positive from stable.

Chicago's upcoming general obligation sale will carry a Moody's rating for the first time since at least 2014.

Seven years after dropping Chicago to speculative grade citing pension funding, Moody's returned the city to investment grade, citing pension funding.

A report digs into the fiscal "entanglements" between CPS and the city as the district moves from mayoral control to an elected school board.

New GO borrowing authority, a WIFIA loan for lead water service line replacement, and short-term airport financing are before Chicago City Council.

While only 29 city related pension plans in 2021 reported future fail dates for meeting retirement benefits, that number could worsen this year as investment returns tumble.

The Metropolitan Pier and Exposition Authority will restructure a portion of fiscal 2023 debt service amid tax collections still recovering from the pandemic.

Chicago, upgraded Friday by Fitch, will follow City Council's expected passage of a new 2023 budget next month with a new money general obligation bond issue.

The upgrade reflects the city's improving pension funding practices, commitment to a sound reserve position and ability to institute structural budget measures, Fitch said.

Decisions by three organizations to drop Moody's ratings underscore an industry-wide trend as the sector struggles with rising costs and narrowing margins.

The status allows the firm to assign the label to bonds based on a review of a project's adherence to the Climate Bonds Standard and Certification Scheme.

The proposed county budget, buoyed by rising tax revenues, a healthy fund balance and pandemic relief, stays the course on supplemental pension funding.

The consolidation of suburban and downstate firefighter pension fund assets is nearly complete but litigation is delaying the police consolidation.

Mayor Lori Lightfoot's proposed budget would forgo an inflation-formula-based property tax hike and make supplemental contributions to the city's pension funds.

The state spreads landed wide compared to a May sale, but remained far narrower than early in the pandemic and during the state's two-year budget impasse.

A larger new-issue slate led by large deals from the Texas Water Development Board and state of Illinois took focus away from the secondary.

Edward Bedore, who managed city finances under by Mayor Richard J. and Richard M. Daley, died this month at 84. Bedore is also remembered for promoting the Summer Business Institute.