Illinois

A federal judge agreed with the SEC that the Chicago suburb must prove the status of reforms agreed to in settling allegations the city misused bond proceeds.

Illinois is asking state justices to resolve efforts to challenge $14 billion of outstanding general obligation bonds.

Park Place at Elmhurst would restructure and redeem $141 million of bonds issued to exit its 2016 Chapter 11 under a plan pending before a bankruptcy court.

Bel Air Investment Advisors is Hightower's 14th and largest acquisition in a year, with $8 billion of assets under management including $2.8 billion of municipals.

The default-ridden Chicago suburb says the court's action to give it back control of its water operation could aid its 2021 objective of restructuring debt.

Lincoln Way school district in suburban Chicago moved further back up the investment grade ladder with a Moody's Investors Service upgrade.

While there are no major sales on the calendar for this week, some larger deals from and Texas, California, New Jersey and Colorado issuers are on tap for the first few weeks of 2021.

Chicago Public Schools will get more than it budgeted for from the federal emergency relief bill; the Illinois Regional Transportation Authority got a bit less.

Illinois closed Thursday on its second MLF borrowing as the program nears its expiration date.

Chicago's CFO turned to short-term borrowing to see whether the federal government comes through with aid to make up for the COVID-19 pandemic's tax blows.

Illinois expects to close by the end of the week on a three-year loan through the Federal Reserve at 3.42%, a steep penalty compared to the state's current trading levels.

The state of Illinois sold $2 billion of three-year notes to the Federal Reserve's Municipal Liquidity Facility at 3.42%.

The authority that financed baseball and football stadiums in Chicago is sounding fiscal alarms as the coronavirus pandemic crushes hotel tax revenue.

Fiscal 2020 added another $3.8 billion to the state's unfunded pension liabilities, according to a new state report.

Munis firmed Friday, only the second time in December they weren't flat, and more than a few participants are waiting on yields to rise before getting involved, particularly given the rich muni/treasury ratios and low absolute yields.

The state attorney general is asking the court to clarify the legal standard for denying taxpayer actions and decide if the state constitution limits GO borrowing to capital purposes.

Deep bondholder losses are expected when the bonds issued for five Better Housing Foundation portfolios in and around Chicago emerge from Chapter 11.

Munis are likely to lag Treasuries in some fashion once year-end empathy settles in mid-month and ratios become a factor.

Without more federal relief, the Illinois Regional Transportation Authority's service boards warn of devastating service cuts, layoffs and fare hikes.

The Finance Committee signed off on new money, refunding, and scoop-and-toss debt restructuring deals and finance teams to assemble and sell the bonds.