Midwest

Fitch Ratings affirmed Chicago's BBB-plus general obligation rating and removed it rating watch negative though the agency continues to assign a negative outlook.

Standard & Poor’s has dropped the Chicago Board of Education’s general obligation rating two levels to BBB and put it on CreditWatch negative.

Illinois Attorney General Lisa Madigan and Comptroller Leslie Geissler Munger want the state courts to provide more clarity on what can be paid without a fiscal 2016 budget in place, including whether the state can meet its payroll.

Six months after an Indiana school district defaulted on bond payments, Standard & Poor's affirmed its A rating on the bonds and removed them from negative CreditWatch.

Michigan Gov. Rick Snyder Thursday appointed a review team to delve into Wayne County’s finances, a day after a state board found the county to be in a probable state of fiscal stress.

Chicago's junk paper offers an enticing opportunity, says one buyside professional who views the city's credit as being on the upswing with a long term solution to its pension woes within reach.

Cook County, Ill. President Toni Preckwinkle said she plans to fast track her proposal to raise the sales tax by one percent by calling for a vote this month on the controversial proposal.

One day after scrambling to cover a $634 million teachers’ pension payment, Chicago and its public school system warned of the dire impact that looms if the state doesn’t either take over the district’s pension fund or cover a big share of the cash-strapped district’s contributions.

A one-month, $2.26 billion budget to fund essential services in Illinois amid an ongoing stalemate over a fiscal 2016 budget failed in the House Wednesday.

A Michigan emergency board Wednesday found that the state’s most populous county faces probable financial stress, a finding that is the first step toward a partial or state takeover.