Illinois

The Metropolitan Pier and Exposition Authority lost McCormick Place Convention Center events and tourism-driven taxes to the pandemic. It also plans another debt restructuring.

Chicago expects to receive $1.9 billion from the American Rescue Plan, which officials hope to use instead of the debt restructuring, a one-time tactic that is frowned upon by many in the industry.

Recent budgetary and pension reports underscore how llinois must proceed with caution in spending $7.5 billion of federal aid.

Chicago's investors will be on the hunt for answers to how the city intends to use federal dollars, including whether it's going to scrap scoop-and-toss plans and meet rising pension contributions.

The cost of guaranteeing 3% cost-of-living adjustments to more retired Chicago firefighters is estimated at $18 million to $30 million annually.

Still, Moody's on Tuesday revised its outlook on the New York MTA's primary transportation revenue bond credit to stable from negative while affirming its A3 rating.

S&P raised CPS' junk rating by one notch, saying federal funds will boost an "already positive financial trajectory."

Transportation fare and tax revenues lost to the coronavirus can be countered with federal relief funding, says the Illinois Economic Policy Institute.

Moody’s followed S&P in lifting Illinois’ outlook to stable, where it stood before the COVID-19 pandemic, but a lot more needs to happen for an upgrade.

Moody's is the second rating agency this month to bring its outlook on Illinois to stable, though all ratings remain at the lowest investment grade.