City of Chicago, IL

Some local governments have begun formal assessments about whether electric services to their communities should be municipalized or whether their existing franchise agreements can be updated in their favor.

Chicago had a $161 million deficit in fiscal year 2024, according to the annual comprehensive financial report the city released on Monday.

Soon after it sold $687.3 million of bonds, Chicago returned to market with $82.55 million for housing and economic development in a deal set to close Monday.

Chicago is facing myriad headwinds. But its GO bond sale last week was oversubscribed and city officials said that allowed them to lower yields in repricing.

Chicago goes to market next week with $517.95 million of taxable and tax-exempt general obligation bonds following a downward outlook revision from Fitch.

When Chicago barred media from its investor conference, it told journalists the policy aligned with peer municipalities' practices. The facts are less clear.

Chicago's O'Hare airport is in the middle of dispute between United Airlines and American Airlines at a tense time for the airport and airline sectors.

Chicago is "diligently preparing" to sell debt, now that the bond market has mostly recovered from April's turmoil, Chief Financial Officer Jill Jaworski said.

Chicago will host its annual investor conference on Thursday as Mayor Brandon Johnson's administration faces challenges including a $1.12 billion deficit.

Chicago released a request for qualifications for underwriting services on April 30, seeking to form new pools from which to choose firms to handle their bond sales.