Midwest

"It's positive to see the proposed budget relies on fairly conservative revenue assumptions and provides additional funding for pensions and education," Molly Shellhorn, senior research analyst for municipals at Nuveen said.

A top advisor to Brandon Johnson said his administration is still waiting on the advice of incoming CFO Jill Jaworski and budget director Annette Guzman.

Nathan Flynn will focus on coverage of Midwest and Southeast borrowers and provide an assist on structuring and project financing more broadly, Siebert said.

The $2.6 billion infrastructure budget stands out as the state's largest ever; bond packages stalled in the previous two years amid political divisions.

Inflation joined supply chain struggles, wage pressures, and the labor shortage — most acutely felt with nursing staff — dragging down the sector's margins.

Public sector employers are in a fierce competition with the private sector for workers and may be losing amid labor shortages and inflation.

With a healthy surplus built over several years, the state adopted a series of tax relief measures. Those actions, along with robust growth in fiscal 2022 that triggered an automatic tax cut, are driving revenue projections lower.

With hotel taxes unlikely to keep pace with debt service , the Illinois Sports Facilities Authority is eyeing a restructuring to extend final bond maturity.

The CTA is looking for the state to boost operating funds to help solve a looming $400 million annual shortfall.

Harvey and its advisors are in the process of notifying holders of its defaulted 2002 and 2007 bonds of its upcoming exchange offer.