Illinois

In an historic election result, two African-American women will face off in a runoff election to become the next mayor of Chicago. Yvette Shields talks with Chip Barnett about what this means for the municipal bond market and why it matters to bondholders.

Lori Lightfoot, in her first race for elective office, will face Toni Preckwinkle, the Cook County board president, in an April 2 runoff.

The state's BBB Fitch rating is at risk of a downgrade if lawmakers adopt Gov. J.B. Pritzker's proposed fiscal 2020 budget.

Refunding volume in the Midwest was down 57% in 2018, while new money deals rose just 1.8%, leaving the region down more than 28%.

Gov. J.B. Pritzker’s “bridge” budget would reduce the state's immediate pension contributions, and assumes voters will approve income tax changes in 2020.

J.B. Pritzker unveiled a $38.9 billion budget that relies on new taxes and borrowing.

Illinois would also use asset transfers, supplemental contributions and a buyout program in the governor's plan to deal with $133.7 billion of unfunded liabilities.

The federation issued its suggested budget roadmap Wednesday, ahead of Gov. J.B. Pritzker's first budget release.

Governance and economics, rather than cutting benefits, are increasingly seen as key to solving pension funding woes.

The ideas are emerging as focal points in Gov. J.B. Pritzker’s search for solutions to the state's pension underfunding.

An asset transfer and payment restructuring were offered to Gov. J.B. Pritzker as ideas for part of a pension fix.

Deep fiscal strains weigh on the district's efforts to claw its way back to investment grade.

The Civic Committee of the Commercial Club of Chicago says its plan would put the state on path to fiscal solvency and double-A ratings.

A new report from the state comptroller lays out budget strains that weigh on the backlog despite strong revenue numbers.

The merger of Catholic Health Initiatives and Dignity Health creates a Chicago-based nonprofit healthcare system with $10 billion in debt and operations in 21 states.

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.