Midwest

Illinois is so short on cash that it won’t make its $560 million monthly pension fund payment next month and could also skip its December payment, state Comptroller Leslie Geissler Munger announced Wednesday.

Chicago Mayor Rahm Emanuel’s proposed 2016 budget and record property tax hike plan won the Chicago Civic Federation’s endorsement, with a warning that more pain may be needed to fully stabilize the city’s fiscal condition.

The Holland School District’s sharp and unexpected enrollment decline illustrates the widespread credit challenges many Michigan districts face, says Moody’s Investors Service.

Indiana Gov. Mike Pence unveiled a new $1 billion, four-year road and bridge construction plan that draws from reserves and calls for new borrowing.

Chicago heads into the market Wednesday with $440 million of second lien wastewater revenue debt that moves the city closer to putting behind it the $2.2 billion liquidity headache triggered by rating downgrades.

Pennsylvania Gov. Tom Wolf joined a three-year cooperation agreement with West Virginia and Ohio to collaborate on areas critical to maximizing shale gas region growth.

Fitch Ratings revised its outlook on Elmhurst Memorial Healthcare’s BBB rating to positive from stable in recognition of its post-merger growth.

Alaska, North Dakota and Wyoming are the states most "in the crosshairs" as energy revenues look to remain low well into next year, Fitch Ratings said.

Buoyed by court victories challenging city and state pension reform legislation, labor is now taking aim at 2014 legislation that overhauled the Chicago Park District’s pension benefits and contributions.

South Dakota’s Sanford Health is bringing $176 million of A-plus rated hospital bonds to market this week in a deal that will mark the final financing of the system’s largest construction project to date.