Illinois

An uptick in new money borrowing fell far short of making up for a decline in refundings.

Automatic deposits would flow to the near empty rainy day and pension stabilization funds if the state government's unpaid bill backlog stays under $3 billion.

Illinois hits the market over the next month with $500 million of new money and refunding bonds under its sales-tax backed Build Illinois bond program

Refinancing savings and federal relief will fill Chicago's $1 billion 2021 hole while the city ponders how to erase a $733 million gap next year as its budget takes shape.

Former Markham, Illinois, Mayor David Webb Jr. was accused of pocketing bribes for a project financed with bonds. He also pled guilty to criminal charges.

Chicago is accepting underwriter qualifications as it updates its investment banking pool; it also delayed the bidding deadline for potential casino developers.

Illinois' single-employer pension plans are straining the budgets and ratings of those local governments without the tax base, flexiblity, and fiscal discipline to tackle rising costs, S&P says in a special report.

J.B. Pritzker signed legislation to move the Chicago Board of Education to an elected 21-member board from the seven-member panel now appointed by the mayor.

The district hopes to win back investment grade ratings by raising fund balances, a task that becomes harder after federal coronavirus relief is exhausted.

The hiring of an underwriter moves the city closer to a debt restructuring that is called for in a legal agreement with holders of defaulted bonds.

Federal relief and rising revenues drew a change in outlook from Moody's to stable from negative, but Moody's remains the only agency to rate Chicago at junk.

Michael Pagano, a "dean" of government finance with a national reputation, will hand the mantle as director of the university's Government Finance Research Center next month to Deborah Carroll.

The prominent Chicago health system's refunding will simplify its debt structure, cut interest rates, and provide longer-term fixed financing.

Chicago is looking for a financial advisor to help it assess casino development proposals due next month.

Spreads for the Metropolitan Pier and Exposition Authority, which manages Chicago's convention center, narrowed in an $811 million deal that priced Thursday.

Federal aid boosts Chicago Public Schools as a sea change in governance looms with elected school board legislation awaiting the governor's signature.

The Metropolitan Pier and Exposition Authority and the Illinois Sports Facilities Authority are heading into the bond market, buoyed by state rating upgrades.

The public transit agenices are benefitting from sales taxes that fared better than expected through the pandemic and the state's stronger fiscal footing

S&P followed Moody's in raising Illinois' general obligation rating, moving it to BBB as the state's fiscal picture brightens.

Chicago's net pension liabilities increased by $1.1 billion in 2020 to almost $33 billion.