Illinois

Weaker operating results led S&P Global Ratings to lower its outlook for the Evanston, Illinois-based university.

A lawsuit alleging fraud accusing banks and broker-dealers of fraud in the variable-rate demand obligation market will proceed, an Illinois judge ruled.

Shields, fired by Wells Fargo in December, joined Loop Capital Markets LLC as a managing director this week.

The courts will decide whether the city must make up shortfalls in tax levy collections to cover the pension contributions.

Palos Health signed a letter of intent to explore joining Loyola Health, which is owned by nonprofit healthcare giant Trinity Health.

Mayor Rahm Emanuel's administration is interested in a similar structure for a pension obligation bond.

J.B. Pritzker's challenges as Illinois governor include low bond ratings, structural deficits and underfunded pensions.

Three lawsuits claiming fraud in the variable-rate demand obligation market are headed toward key court rulings in coming weeks.

Illinois and Chicago will be this week's headliners as the state comes under new leadership while the city sells the biggest municipal bond deal of the week — a $551 million offering from the Sales Tax Securitization Corp.

The $551 million issue wraps up a nearly $3 billion program; $7.7 billion of proposed pension obligation bonds rely on similar structure