Illinois

A bankruptcy judge will be asked to sign off on the sale of BHF's Shoreline portfolio in Chicago and will hold an initial Chapter 11 hearing on another portfolio.

The new system would hold a commanding presence in Illinois, Michigan and Wisconsin with $17 billion of revenues and 100,000 employees.

S&P cut its outlook on Berwyn, Illinois, GO and securitization bonds to negative over risks posed by the pandemic-induced economic shutdown and recession.

Mayor Lori Lightfoot and her finance team warn that this year's budget gap is getting bigger, and that painful choices are coming without federal financial aid.

Monday's first phase of emergence from COVID-19 lockdowns will put the city and the Metropolitan Transportation Authority in a national spotlight.

Public pension plans already received their 2020 funding by the time that the initial economic shock wave of the pandemic occurred.

Illinois did not use its maximum amount of notes in the Fed program which could mean a possible expansion of eligibility for the muni program.

Illinois said Tuesday it signed an agreement for the Municipal Liquidity Facility to purchase its one-year certificates. Closing is expected Friday.

The collapse of the mergers comes as the not-for-profit healthcare sector confronts direct and indirect challenges drive by COVID-19.

The $40 billion budget for fiscal 2021 authorizes up to $5 billion of borrowing through the Federal Reserve’s Municipal Liquidity Facility.

Moody’s Investors service downgraded the archdiocese to Baa1 from A1.

The Evanston, Illinois-based university will offer $300 million of taxable debt as soon as Wednesday after losing its gilt-edged rating status.

Chicago officials, who present a budget in October, are reviewing scenarios that consider how long shutdowns remain in place and what happens afterward.

The Federal Reserve opened the door to participating in a competitive bidding process for short-term notes, a requirement in Illinois law.

Yields on all triple-A benchmark curves out to nine years are now below 1%. The largest bumps were again on the very short end of the curve. Lipper reported $580 million of inflows.

Investors scooped up Illinois’ $800 million deal as the state dug deep into its pockets .

Investors are sending the message that higher-grade, longer-term issuers will fare far better than lower-rated, higher-yield ones amid a focus on credit.

The short end of the municipal curve again saw yields fall, but that didn't impede the productivity of the day's new-issue market.

Moody's revised its outlook on the Chicago Transit Authority and Regional Transportation Authority to negative as COVID-19 threatens their revenue streams.

The Westin Lombard hotel and conference center in Chicago's suburbs dipped into debt reserves to cover operations after closing in response to the pandemic.