Illinois

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.

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.

Illinois Supreme Court justices offered little indication of how they lean in the case seeking to invalidate more than $14 billion of outstanding bonds.

Illinois rode the tailwinds of market demand for higher-yielding paper and its rosier fiscal picture, sending its primary market spreads to their lowest since 2014.