Midwest

The junk-rated school district won an upgrade and saw its secondary bond market spreads narrow as it expects to pocket about $1.8 billion in new aid.

GOP lawmakers plan to scrap some of the Democratic governor's budget priorities, which include a $2.38 billion capital plan.

S&P moved Illinois' outlook to stable from negative amid revenue numbers that beat pandemic-driven low expectations. The rating remains the lowest among states.

The Illinois attorney general and the head of conservative policy group lay out their positions next week in a case seeking to void $14 billion of state debt.

From the use of taxables to forward deliveries, refunding deals drove an overall 15.8% hike in Midwest bond volume that exceeded the national average.

S&P said the proposed budget represents a step in the right direction but it will weigh the final budget and other developments before acting on its BBB-minus rating.

“There’s been absolutely no effort made to take this collection of ideas and price it out,” Mayor Mike Duggan said of proposals to change the city charter.

The facility and a majority of bondholders agreed to a restructuring that aims to ease repayment problems not solved by the previous bankruptcy in 2016.

The COVID-19 pandemic didn't delay the deal but it did influence the structuring of the new money and refunding deal.

Gov. J.B. Pritzker is still mulling action on legislation Mayor Lori Lightfoot says will add to the city's considerable fiscal burdens.