Chicago Sales Tax Securitization Corp

Chicago GOs were upsized and repriced on Wednesday to bump yields as indications of interest were taken on the Sales Tax Securitization sale.

Both the senior and the new second lien of Chicago's Sales Tax Securities Corp. are now rated AA-minus.

A healthy response to Chicago's first tender invitation is expected to bolster the savings on $1.47 billion of refinancing debt the city sells this week.

Demand for municipal bonds is much stronger in 2020 than it was to end 2019, illustrated by record inflows into the asset class in the latest reporting week.

Chicago is coming to market next week with its $1.3 billion debt refinancing.

The city is folding together separate syndicate and advisor teams on $1.2 billion of general obligation and Sales Tax Securitization Corp. refunding deals.

Rating agencies affirmed Chicago's GOratings and the first report also out on the new junior lien Sales Tax Securitization Corp. credit.

Mayor Lori Lightfoot's first budget cleared the City Council on a 39-11 vote.

The Finance Committee signed off on bond refinancing and revenue packages that are key to the 2020 budget, paving the way for a full city council vote.

Chicago now expects to bank $215 million in upfront debt refinancing savings from a bond refinancing it expects late this year or early next.

Though the market may view Chicago's budget as heading in the right direction, relying on the state is a gamble that's a concern for aldermen, too.

Mayor Lori Lightfoot needs to achieve her 2022 target of structurally balancing the city’s books to preserve Chicago's BBB-plus rating, S&P said.

Lori Lightfoot would close an $838 million gap with a mix of permanent and one-time maneuvers including new taxes, spending cuts and debt restructuring.

No pension obligation bonds, scoop-and-toss, or backtracking on borrowing for operations are planned in the Chicago mayor’s budget fix.

More than 300 market participants, including 100 investors, attended the city's annual conference Friday to hear from Mayor Lori Lightfoot.

Mayor Lori Lightfoot's administration faces an $838 million budget gap as the city prepares to host investors at its annual buyside conference Friday.

City tours, panel discussions, and remarks from the mayor and chief financial officer are planned.

Poor returns piled another $2 billion onto Chicago's pension tab, but it won't add to the already $280 million contribution spike looming next year, according to its new CAFR.

Rating criteria changes and a ruling in the Puerto Rico III case have undermined some investors' and analysts' confidence in revenue pledges.

The mayor took the oath of office Monday and faces decisions soon about how to handle unfunded pension liabilities along with rising debt service and labor costs.