City of Chicago, IL

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.

Chicago is looking for a financial advisor to help it assess casino development proposals due next month.

Chicago's net pension liabilities increased by $1.1 billion in 2020 to almost $33 billion.

Like the city's pension funding revisions, the park district's plan ramps up to actuarial payments but it's alone in aiming for a 100% funding target.

The authority will scoop-and-toss some near-term debt to avoid a shortfall that would force Chicago to dig into its own pockets to cover a hotel tax shortfall.

The city and state want to use ARP funds to repay debt issued to manage the pandemic but Treasury's initial guidance would derail those plans.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.