Midwest

Recent budgetary and pension reports underscore how llinois must proceed with caution in spending $7.5 billion of federal aid.

Chicago's investors will be on the hunt for answers to how the city intends to use federal dollars, including whether it's going to scrap scoop-and-toss plans and meet rising pension contributions.

Smith, who joined the Michigan-based law firm in 2016, will lead a 16-member team.

S&P cut Energy Harbor Corp.'s issuer credit rating to junk due to the subsidy repeal, but affirmed $400 million of bonds at the low investment grade level of BBB-minus.

Kansas City will follow up a GO sale from last month with $186 million of tax-exempt, taxable new money and refunding special obligation bonds Wednesday.

The cost of guaranteeing 3% cost-of-living adjustments to more retired Chicago firefighters is estimated at $18 million to $30 million annually.

Still, Moody's on Tuesday revised its outlook on the New York MTA's primary transportation revenue bond credit to stable from negative while affirming its A3 rating.

S&P raised CPS' junk rating by one notch, saying federal funds will boost an "already positive financial trajectory."

Transportation fare and tax revenues lost to the coronavirus can be countered with federal relief funding, says the Illinois Economic Policy Institute.

Moody’s followed S&P in lifting Illinois’ outlook to stable, where it stood before the COVID-19 pandemic, but a lot more needs to happen for an upgrade.