Illinois

A repricing of Illinois GOs saw the bonds bumped by 12 to 20 basis points from Tuesday's preliminary pricing wires and 17 to 25 basis points from Monday's price talk.

A bill backed by the Municipal Employees’ Annuity and Benefit Fund underscores the fiscal strains created by Chicago's pension underfunding.

A reversal of fund flows and the arrival of the economic aid for states and local governments helped boost the market's morale ahead of $10 billion in new-issues supply this week.

Municipals largely ignored the moves to higher yields in U.S. Treasuries as participants await the largest new-issue calendar of 2021 and big-name deals out of New York and Illinois.

The junk-rated school district won an upgrade and saw its secondary bond market spreads narrow as it expects to pocket about $1.8 billion in new aid.

S&P moved Illinois' outlook to stable from negative amid revenue numbers that beat pandemic-driven low expectations. The rating remains the lowest among states.

The Illinois attorney general and the head of conservative policy group lay out their positions next week in a case seeking to void $14 billion of state debt.

From the use of taxables to forward deliveries, refunding deals drove an overall 15.8% hike in Midwest bond volume that exceeded the national average.

S&P said the proposed budget represents a step in the right direction but it will weigh the final budget and other developments before acting on its BBB-minus rating.

The facility and a majority of bondholders agreed to a restructuring that aims to ease repayment problems not solved by the previous bankruptcy in 2016.

Gov. J.B. Pritzker is still mulling action on legislation Mayor Lori Lightfoot says will add to the city's considerable fiscal burdens.

Illinois Gov. J.B. Pritzker's budget proposal, rosier revenue estimates and the prospects of more federal aid are only short-term salve for the state's long-term fiscal strains.

Gov. J.B. Pritzker's says potential federal funding relief would go first to pay down short-term debts likes its Federal Reserve borrowing and the state's bill backlog.

Illinois will square off with lawyers representing John Tillman next month in his 2019 case seeking to void bonds issued to fund pensions and pay down bills.

The Michigan-based nonprofit hospital chain expects a restructuring charge from the Mercy Hospital bankruptcy but no impact to its municipal bond debt.

J.B. Pritzker laid out a few details of his upcoming budget proposal, saying he won't seek a tax hike and will hold spending steady.

Joliet will finance new infrastructure with a mix of revenue borrowing and state and federal loans in an agreement that will bring Chicago $30 million annually.

The Illinois legislature passed a pension benefit enhancement for a group of Chicago firefighters. If Gov. J.B. Pritzker signs it, local taxpayers will pay up.

Federal COVID-19 relief aid cushions the district's balance sheet but labor, state budget, and pension woes remain.

ISFA board member Leslie Darling will take over the role of board chair.