Illinois

The IFA is hoping to capitalize on growing investor interest in green and sustainable bonds.

Gov. J.B. Pritzker says preservation of the investment-grade status is "very important;" Illinois bonds traded wider after the income tax referendum failed.

The defeat of Gov. J.B. Pritzker's "Fair Tax" strikes down a pillar of his plan for the state's wobbly finances and increases risk to the state's bond ratings.

Traffic is recovering at the Illinois State Toll Highway Authority, which is planning $600 million of new borrowing for its 2021 capital plan.

The fate of the state budget and ratings may depend on the progressive income tax ballot measure. Midwest voters also face $2.3 billion of bond measures Tuesday.

Moody’s on Thursday joined Fitch and S&P Global Ratings in moving the city’s rating outlook to negative. It has rated Chicago at speculative grade since 2015.

By putting a negative outlook on its BBB-minus rating, Fitch leaves Chicago little room to avoid being saddled with a second speculative-grade rating.

Mayor Lori Lightfoot must manage demands from aldermen without damaging the city's ratings or investor sentiments on a coronavirus-driven budget with few fans.

The city needs to continue meeting pension commitments and moving to structural budget balance despite the coronavirus pandemic, the rating agency said.

The Chicago-area transit agency says it needs more federal aid to manage pandemic-induced funding shortfalls.

Chief of Staff for Deputy Governor, State of Illinois

The troubled south Chicago suburb hired Meristem Advisors to assist with the restructuring it agreed to in a consent decree with holders of defaulted bonds.

The proposed combination of the major not-for-profit healthcare players in Illinois, Michigan, and Wisconsin encountered opposition in Michigan.

Moody's followed S&P in issuing a shot across the bow on coronavirus-driven threats to Illinois' ratings that are one cut away from junk.

“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.