Board of Education of the City of Chicago

Illinois Gov. Bruce Rauner's veto of school aid legislation jeopardizes school funding and ratings, Fitch reports.

Illinois Gov. Bruce Rauner reshaped a school funding bill Tuesday, cutting CPS' piece of the pie.

The rating agency said it doesn’t expect the budget to directly result in any local government rating changes, though school districts remain vulnerable to a possible impasse over funding.

Gov. Bruce Rauner has called the bill a “bailout” for Chicago Public Schools and plans to use his amendatory veto powers to cut funding in half.

Chicago has good news to share as investors return to town, though pension and school woes loom large.

Chicago school officials pledged to open on time after Labor Day.

The Illinois governor says he will use his amendatory veto powers to shift some Chicago school aid to other districts.

The end of the two-year budget drought in Illinois is a mixed bag for “downstream” credits.

Municipal bond traders are returning to work on Monday set for the week’s $7.66 billion new issue calendar. The slate is composed of $3.99 billion of negotiated deals and $3.67 billion of competitive sales.

Top-shelf municipal bonds were stronger at mid-session, according to traders, who were looking ahead to next week’s new issue calendar. which Ipreo estimates at $7.66 billion.

Municipal bond traders are waiting to see how much volume the market will encounter next week as they eye volatile muni yields.

Municipal bonds ended mixed on Monday, according to traders, as the New York City Transitional Finance Authority’s $1 billion of building aid revenue bonds were priced for retail investors and the Chicago Public Schools came to market with an unrated bond deal.

Chicago Public Schools borrowed $500 million after doubling the size of its GO offering.

Municipal market participants will get back to work and find their hands full, with $9 billion of new issuance forecast for the primary market.

Moody's Investors Service said it has placed Chicago's Ba1 general obligation rating under review for possible downgrade.

Chicago Public Schools sent $467 million to the teachers' pension fund as required Friday.

Chicago Public Schools closed on the private placement of $112 million of grant anticipation notes.

The Chicago Public Schools paid a punishing yield on short-term state grant anticipation notes.

Chicago’s chief financial officer says bankruptcy isn’t on the table for Chicago Public Schools.

JPMorgan is Chicago Public Schools' choice for the direct placement of $396.5 million of notes.