CHICAGO — As Gov. Pat Quinn signed legislation Thursday increasing Illinois’ income tax, his debt manager met with rating agencies while the state plans to issue $3.7 billion of pension bonds next month and may resurrect a failed $8.75 billion borrowing to pay bills.

The General Assembly approved the pension issue shortly after passing legislation to increase the income tax and impose temporary caps earlier in the week.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.