Illinois

“What purpose do reserves serve if we don't utilize them in times when you have a problem?” one alderman asked.

Chicago's $1.2 billion airport refunding will smooth out fiscal operations through next year amid a massive decline in airline travel.

S&P said the downgrade is the result of what is likely a one-off analytic error in 2005; the bonds in question are held by Fannie Mae and have never traded.

Chicago's chief financial officer said the city must consider all options given the magnitude of the pandemic in the absence of federal relief for lost revenue.

S&P issued a bulletin Monday warning that pressure is mounting on Illinois' BBB-minus rating —the lowest investment grade — as federal relief remains stalled.

Voters will consider bond issues in three states and a number of tax measures, according to the National Conference of State Legislatures.

The student housing and academic facility that serves the University of Illinois Chicago campus opened in August.

Chicago Mayor Lori Lightfoot's administration is weighing more debt refinancing, layoffs and tax hikes to fully close the budget gap

The Chicago Board of Education warns of tough spending decisions ahead if the federal government doesn't act on a new stimulus/relief package.

The CTA heads into the market with an amended budget and warnings about the coronavirus pandemic's impact on its budget without a new infusion of federal aid.