Illinois

The downgrade brings Fitch into alignment with Moody's and S&P, and the negative outlook leaves Illinois without any rating room above speculative grade.

Gov. J.B. Pritzker laid out revised revenue estimates for the fiscal 2020 and proposed 2021 budgets.

Illinois has spent about $170 million on coronavirus-related expenses so far, and Gov. J.B. Pritzker said more information on the budget impact is coming.

The office of Illinois Attorney General Kwame Raoul informed a Cook County court it will not allow the Edelweiss lawsuit to be dismissed on public disclosure grounds.

The court offered a bruising assessment of Nuveen's attempts to choke off Preston Hollow's business, but the investment powerhouse doesn't face any penalties or damages.

Moody’s revised its outlook on Illinois’ Baa3 rating to negative from stable; a university study warns of a worst-case $28 billion multi-year revenue hit.

The state's ratings are low investment grade, but the secondary market is pricing its bonds as high-yield.

S&P Global Ratings moved its outlook on Illinois' BBB-minus to negative from stable on "worsening economic conditions," an action that also impacted sales tax, convention center and sport facilities' bonds.

Lori Lightfoot's confident statements about the city's fiscal resilience aren't wholeheartedly shared by the muni buy-side as the coronavirus hurts the economy.

The nation's second-most-populous county is factoring in a recession as it runs fiscal models on COVID-19's impact and is banking on federal aid for hospitals.