Midwest

Standard & Poor’s said Chicago Mayor Rahm Emanuel's recently adopted tax hike to fund pensions is just one step in the city's long road to financial stability.

Illinois local governments, especially school districts, are faring better than their Pennsylvania counterparts during their respective state’s budget impasse, Moody’s Investors Service says.

Chicago Mayor Rahm Emanuel’s 2016 budget and record property tax hike to pay for public safety pensions easily cleared the City Council Wednesday.

Chicago City Council members cast their vote Wednesday on Mayor Rahm Emanuel’s nearly $8 billion 2016 budget that relies on a record property tax hike billed as the needed fix for the city’s pension mess that’s behind its plummeting credit.

Despite last week’s downgrades, Illinois’ general obligation paper fares better than New Jersey for relative credit risk, Municipal Market Analytics said in a commentary comparing the two lowest-rated states.

Six of Illinois’ eight public universities took a fresh credit blow from Moody’s Investors Service with downgrades stemming from exposure to the state’s fiscal strains and its budget crisis.

The Chicago Park District’s AA-plus Standard & Poor's rating won’t change solely because of a new legal challenge launched against its pension reforms.

The developers of a $2.8 billion Indiana fertilizer plant will remarket $1.26 billion of debt as they continue trying to finalize project details they have to nail down before they can roll the securities into a long-term structure.

The proposed legislation doesn’t radically alter Michigan law for the benefit of bondholders.

The Michigan Senate will begin reviewing the $1.2 billion transportation plan passed by the House the week of Oct. 26.