Illinois

The Metropolitan Water Reclamation District of Chicago now has $600 million of pension obligation bond authority as it aims for a 100% funded ratio by 2050.

Moody's lifted Illinois one notch to Baa1, marking the state's third rating upgrade over the last year and first since lawmakers passed a state budget.

Steven Washington joined Chapman and Cutler this week as a partner.

Legislative backers of the fiscal 2023 budget approved over the weekend with Gov. J.B. Pritzker's blessing believe it will draw more positive rating actions.

The public agency that owns and operates Chicago's convention center says operating revenues and tax collections are doing better than forecast in the fiscal 2022 budget but lag pre-pandemic levels.

Illinois' current budget surpluses offer an opportunity to help bolster the state's fiscal foundation as it navigates persistent pension strains and economic threats, the Commission on Government Forecasting and Accountability said.

Joliet is embarking on a $784 million project to replace old water mains and design and engineering work for a new transmission line from Lake Michigan.

Illinois lawmakers are advancing a bill that allocates $2.7 billion of the state's ARPA relief to pay down a $4.5 billion federal unemployment insurance loan.

The Chicago Transit Authority's sales tax pledge remains healthy even as it struggles to recover riders amid rising crime and remote work trends.

The state owes $4.5 billion to the federal government for unemployment benefits paid early in the pandemic; bonds may part of the repayment plan.

Indictments of Illinois' former House speaker and the former Chicago city finance committee chair provide fuel for the city's and state's reputations for corruption.

A bond-funded pension buyout extension and automatic transfers into the state's now meager rainy day and pension stabilization funds are being discussed by Illinois lawmakers as they look to wrap up their spring session next month.

Illinois senators joined House colleagues to introduce legislation that would give states with unemployment trust fund loans more interest-free time to repay them.

The Illinois Finance Authority signed off on the financing cementing NorthShore University HealthSystem’s recently closed merger with Edward-Elmhurst Health.

Moody's raised the Chicago Board of Education's rating by one notch to Ba2.

Lawmakers are being asked to put off a deadline to consolidate suburban Chicago and downstate police pension assets and extend the deadline for funds to reach a 90% funded ratio by 10 years.

The Illinois Sports Facilities Authority projects a fiscal 2022 shortfall in hotel tax collections needed to repay the annual state advance that covers debt service.

Municipal bond issuance in the Midwest reversed course last year, falling by 7.4% to $77.5 billion.

Fitch's commentary suggests a rating upgrade from BBB-minus is in the offing if the governor's proposed budget passes.

Alderman Patrick Daley Thompson, the grandson and nephew of Chicago mayors, was found guilty of federal charges of making false statement and tax fraud.