Illinois

States are well-positioned to emerge from COVID-19, the investment firm said in its annual grading.

The Harvey firefighters pension fund argues that the troubled city's share of American Rescue Plan funds should be subject to an intercept of state funds.

State Comptroller Susana Mendoza urges the Treasury Department to change its guidelines to allow the state to pay off MLF loans with ARP funds.

The city and state want to use ARP funds to repay debt issued to manage the pandemic but Treasury's initial guidance would derail those plans.

Gov. J.B. Pritzker is now willing to fully fund a scheduled education funding hike but other contentious issues remain, notably corporate tax breaks.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.

The change to monthly from quarterly revenue reports is a positive, the rating agency said, though the ordinance doesn't extend to expenses or cash flow.

Reopening would help a public agency that needs $15 million in state help to cover debt service this year and is asking for additional operating subsidies.

Change is afoot for CPS as its leader Janice Jackson is leaving and legislation stripping Chicago's mayor of full power to appoint CPS board members gains legislative momentum.

More Illinois districts were lifted into the top fiscal category last year even as they navigated the start of COVID-19 pandemic

Northwest Community became the second independent hospital to affiliate with the Evanston, Ill.-based NorthShore Health system over the past year.

Income tax payments and improving revenue collections have helped bring the state's bill backlog down to $3.5 billion.

Final payouts are approaching for $170 million of defaulted BHF bonds with haircuts ranging from less than 10% to more than 50%.

Chicago is betting on an eventual $200 million annual jackpot from a future casino to pay down its public safety pension fund obligations

The Illinois-based health system, with a balance sheet helped by its insurance arm, will sell $600 million of AA-minus rated debt over the next month.

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.