Illinois

Mayor Lori Lightfoot's administration faces an $838 million budget gap as the city prepares to host investors at its annual buyside conference Friday.

Moody's shifted its rating outlook to negative from stable on the Chicago Catholic Archdiocese.

City tours, panel discussions, and remarks from the mayor and chief financial officer are planned.

A new legal bulletin was requested by SEC Chair Jay Clayton after he observed lawyers noting that some platforms put financial disclosure under more scrutiny.

Chicago says its met its obligations under the state pension code; all four of its pension funds have filed shortfall claims with the state.

At a bond lawyer conference, lawyers said they've seen increased interest in self-reporting.

“The City of Harvey, through no fault of Comer’s and unrelated to Comer’s fiduciary obligations, tainted the district’s offering,” according to the defense.

PHC not seeking financial damages, instead wants permanent injunction to cease alleged conduct.

CPS sees spread penalties dwindle as market looks for yield and recognizes district's fiscal progress.

“I think there’s enough demand for Illinois bonds," said Vikram Rai, head of Citi's municipal strategy group.