Illinois

The Illinois city faces garnishment of state funds to make up for pension shortfalls, threatening its ability to deliver core services, Moody's said.

The Chicago Park District would phase in actuarially determined pension payments under a funding plan that still needs state legislative approval.

Illinois lawmakers wrapped up the first half of their annual fall veto session leaving tough legislation for the second half, beginning Nov. 12.

Though the market may view Chicago's budget as heading in the right direction, relying on the state is a gamble that's a concern for aldermen, too.

Optimistic investment assumptions are the primary cause of public-sector pension plan underfunding, according to a report by Hilltop Securities.

Mayor Lori Lightfoot needs to achieve her 2022 target of structurally balancing the city’s books to preserve Chicago's BBB-plus rating, S&P said.

Both women will be honored as part of The Bond Buyer's Deal of the Year gala on Dec. 4 in New York City.

Illinois Gov. J.B. Pritzker's administration says the forecast shows that Illinois needs to change its income tax structure.

Lori Lightfoot would close an $838 million gap with a mix of permanent and one-time maneuvers including new taxes, spending cuts and debt restructuring.

llinois paper is looking more attractive when held up to Chicago city and Chicago Public Schools bonds, Citi analysts write.