Illinois

The Chicago Civic Federation supports the proposed budget despite worries

After management and physicians from both health systems worked to provide a merger recommendation, the UnityPoint Health board “failed to embrace the vision."

Chicago now expects to bank $215 million in upfront debt refinancing savings from a bond refinancing it expects late this year or early next.

The labor deal with teachers to end an 11-school-day strike puts pressure on Chicago Public Schools in the out years, say FItch and S&P.

Illinois’ competitive $750 million general obligation issue proved an easy sell with tight cover bids.

The unfunded liabilities rose to $137 billion in fiscal 2019 from $134 billion, and the state will have to contribute $600 million more in fiscal 2021.

The junk-rated school district revised its fiscal 2020 budget to reflect the contract that ended a teachers' strike, but long-term questions remain.

Ahead of the deal, Moody's revised its outlook on the hospital system's Aa3 rating to positive from stable.

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.

The Illinois State Toll Highway Authority is in the ninth year of a 15-year, $14 billion capital program.

No pension obligation bonds, scoop-and-toss, or backtracking on borrowing for operations are planned in the Chicago mayor’s budget fix.