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Lori Lightfoot's confident statements about the city's fiscal resilience aren't wholeheartedly shared by the muni buy-side as the coronavirus hurts the economy.April 3
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Smith, who headed the restructuring practice at Chicago-based McDermott Will & Emery, worked on nearly every major muni bankruptcy of the past 20 years.March 26
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The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.March 20
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Chicago Mayor Lori Lightfoot's administration is stressing the city's improved liquidity and jolt of refinancing savings provide a cushion to manage the near-term tax losses.March 16
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Illinois freed up $500 million in capital funding for a University of Illinois research center that will anchor the development.February 12
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Chicago’s $1.5 billion sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt generated $310 million of budget savings.January 17
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Chicago GOs were upsized and repriced on Wednesday to bump yields as indications of interest were taken on the Sales Tax Securitization sale.January 15
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Both the senior and the new second lien of Chicago's Sales Tax Securities Corp. are now rated AA-minus.January 15
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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.January 14
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The Windy City is looking to add even more savings to a $1.3 billion debt refinancing with a tender invitation for some of its older, higher-yielding bonds. “The tender is just gravy,” City CFO Jennie Huang Bennett said last week.January 13
