Illinois

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.

Gov. J.B. Pritzker said the state can afford to keep paying for critical services as the coronavirus toll mounts.

Thirty-six firms made the cut, and eight didn't, when Illinois reviewed broker-dealer qualifications for new underwriting pools.

The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.

Chicago Mayor Lori Lightfoot's administration is stressing the city's improved liquidity and jolt of refinancing savings provide a cushion to manage the near-term tax losses.

Other Midwest legislatures are canceling sessions or weighing early spring breaks to slow the spread of COVID-19.

The agency's deputy finance chief was promoted after CFO Michael Colsch's retirement.

Harvey, Illinois, is trying to reach settlements on legal claims being pursued by bondholders and on overdue Chicago water payments.

More than $1 billion of taxable and tax-exempt issuance is planned.

The rating agency will await the legislature's passage of a final budget before casting a credit judgment.

The Illinois attorney general's office is also believed to be looking into the foundation, which issued $170 million of tax-exempt bonds that have defaulted.

Taxable refundings caught on in the Midwest as they did elsewhere in the nation, helping the region post a 19% volume gain.

Bankruptcy hearings are underway for Lindan Properties, one of five troubled bond-financed Better Housing Foundation affordable housing portfolios in the area.