Midwest

Cook County’s plan to veer from state law and make an actuarial-based pension contribution offers a “novel approach” that could shape public pension funding debate in Illinois, Fitch Ratings says.

The municipal market’s buyside views Chicago’s pension reform appeal before the Illinois Supreme Court as a longshot and wants the city to come up with an alternative.

Cook County, Illinois board President Toni Preckwinkle defended its newly approved $4.5 billion 2016 budget, which relies on several tax hikes, as a “responsible” plan to meet county’s pension and budget needs.

The Chicago City Council adopted new rules governing any future asset privatization deals against a backdrop of lingering political and public anger over the city’s parking meter lease fiasco.

Standard & Poor’s dropped its threat to lower charter school -- Detroit Community Schools’ -- already speculative grade rating after receiving sufficient financial information to hold the rating steady at B-minus.

The fate of Chicago’s overhaul of two of its four pension funds now rests with the seven justices of the Illinois Supreme Court.

The Illinois State Toll Highway Authority is highlighting to investors its double-A ratings and fiscal strength as it prices a $400 million deal against a backdrop of two recent downgrades to Illinois state general obligation bonds.

Illinois Gov. Bruce Rauner’s budget summit with legislative leaders is being pushed back two weeks as the state’s bill backlog climbs and its credit ratings remain under threat.

A consortium of Canadian pension funds will take over the lease rights to the Chicago Skyway toll road for $2.8 billion.

Moody’s Investors Service has revised the University of Chicago Medical Center's outlook to stable from negative thanks to two years of stronger operating margins.