Midwest

The Illinois State Toll Highway Authority is issuing up to $400 million of toll-backed revenue bonds next month, the first of two new-money borrowings to finance a record year of capital spending.

Illinois Democrats warned that Gov. Bruce Rauner’s veto Thursday of all but education spending bills in the fiscal 2016 budget moves the state closer to a partial governmental shutdown.

The Chicago Board of Education approved resolutions authorizing $1.135 billion of short term tax anticipation note and warrant-backed borrowing to manage its precarious liquidity position.

While a state budget impasse otherwise shows no signs of easing, Illinois Gov. Bruce Rauner did sign off on education spending for the next fiscal year.

Standard & Poor’s has put Wayne County’s speculative grade rating on CreditWatch with negative implications following its request for state intervention.

The Chicago Public Schools’ efforts to ease a liquidity squeeze with a bill to delay a pension payment failed amid the ongoing clash between Gov. Bruce Rauner and House Speaker Michael Madigan.

Moody’s Investors Service has revised its outlook on Kansas City, Missouri’s Airport Enterprise ratings to positive thanks to recent revenue and traffic growth.

Chicago’s school system is trying to avert a liquidity crisis through two short-term fixes to provide breathing room as it pursues long-term solutions to its pension and budget ills.

Public finance attorney Maribel Mata Benedict has joined Detroit-based law firm Miller Canfield in the firm's Chicago office from Katten Muchin Rosenman.

The cash-strapped Chicago Public Schools is pushing off release of its fiscal 2016 budget and looking at $1.1 billion of tax anticipation and note borrowing through new credit lines as it struggles to stay afloat.