City of Chicago, IL

Fitch raised the CBOE’s issuer default rating and outstanding unlimited tax GOs to BB-plus from BB and outstanding dedicated capital improvement tax bonds to A from A-minus.

Chicago's captured a new low in recent history on tax-exempt spreads but the taxables, which were downsized by $500 million, faced a tougher road amid Treasury volatility.

Thirty-day visible supply drops to $13.54 billion with still a large chunk of new issues to be priced Wednesday and Thursday.

Chicago's long-planned refinancing was led by a GO tranche priced Tuesday with spreads of 33 to 86 basis points, and follows with the Sales Tax Securitization piece Wednesday.

Chicago Mayor Lori Lightfoot is aiming to present her pick among five casino bidders to the City Council early next year.

The massive Chicago-based system that operates in 21 states scored a ratings boost from S&P and a revised outlook to positive from Fitch.

The tender/exchange offer is built into a more than $1 billion refinancing the city plans to price in early December.

Moody's joined the other three rating agencies in returning O'Hare's outlook to stable as Chicago plans to tap an up to $2.3 billion new money and refunding authorization next year.

The outlook revisions boosts a city with some $8 billion in borrowing in the works, including more than $1 billion before the end of this year.

Chicago anticipates a casino-resort development will result in a $200 million annual jackpot — with room to grow — to help cover public safety pension contributions.

The city’s timing is good as long as market demand for municipals, especially higher yielding paper, stays on track, municipal bond investors say.

Fitch joined Kroll and Moody's in moving Chicago's outlook to stable from negative as City Council prepares to vote on a budget and $4.4 billion in borrowing.

The full Chicago City Council will cast a final vote on a $4.4 billion bonding authorization and 2022 budget in the coming days.

Chicago Mayor Lori Lightfoot's finance team laid out plans to tap more than half of $9 billion of existing and proposed borrowing authority through 2022 to refinance debt for savings and fund infrastructure and pandemic recovery efforts.

Mayor Lori Lightfoot wants to use $1.3 billion of the city's $1.9 billion in coronavirus relief aid to make up for lost revenues.

Some Chicago council members questioned Mayor Lori Lightfoot's plans to use federal funds to back off scoop-and-toss restructuring plans with the demand so high for more social and human services and anti-crime spending.

Kroll Bond Rating Agency also affirmed the city’s general obligation bond rating at A.

Refinancing savings and federal relief will fill Chicago's $1 billion 2021 hole while the city ponders how to erase a $733 million gap next year as its budget takes shape.

Chicago is accepting underwriter qualifications as it updates its investment banking pool; it also delayed the bidding deadline for potential casino developers.

Federal relief and rising revenues drew a change in outlook from Moody's to stable from negative, but Moody's remains the only agency to rate Chicago at junk.