Illinois

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.

Stability at the state government level and the prospects of more aid in fiscal 2023 eased balance sheet pressures on Illinois' public universities.

The SEC terminated its latest proceedings against the city after an independent consultant found the city was in "substantial compliance" with a 2014 judgment.

Susana Mendoza argues that a budget plan that would use surpluses to pay down bills and raise pension contributions shows the state is on the right fiscal path.

Illinois' burdensome pension tab and questions over whether revenue can keep pace with spending in the long term pose strains, but the governor's plan to use surpluses to pay bolster the rainy day fund and pension contributions and pay down bills moves the state in the right direction.

Gov. J.B. Pritzker highlighted rating recent upgrades as he presented an election-year budget that would also offer tax relief and reduce the bill backlog.

Like peers with big endowments and strong student demand, the private university in Chicago has managed through the pandemic with its ratings intact.

Loop acquired an investment advisory firm from BMO.

Illinois Gov. J.B. Pritzker will unveil a proposed, fiscal 2023 spending plan Wednesday that offers some modest, one-time targeted tax relief.

The state-approved benefit change for some Chicago firefighters adds $180 million to the city's unfunded tab and $700 million to contributions over 30 years.

Illinois' nearly exhausted $1 billion of GO bonding authority for existing pension buyout programs would get a $1 billion infusion under pending legislation.