City of Chicago, IL

The change to monthly from quarterly revenue reports is a positive, the rating agency said, though the ordinance doesn't extend to expenses or cash flow.

Chicago is betting on an eventual $200 million annual jackpot from a future casino to pay down its public safety pension fund obligations

Chicago expects to receive $1.9 billion from the American Rescue Plan, which officials hope to use instead of the debt restructuring, a one-time tactic that is frowned upon by many in the industry.

Chicago's investors will be on the hunt for answers to how the city intends to use federal dollars, including whether it's going to scrap scoop-and-toss plans and meet rising pension contributions.

The cost of guaranteeing 3% cost-of-living adjustments to more retired Chicago firefighters is estimated at $18 million to $30 million annually.

Still, Moody's on Tuesday revised its outlook on the New York MTA's primary transportation revenue bond credit to stable from negative while affirming its A3 rating.

A bill backed by the Municipal Employees’ Annuity and Benefit Fund underscores the fiscal strains created by Chicago's pension underfunding.

From the use of taxables to forward deliveries, refunding deals drove an overall 15.8% hike in Midwest bond volume that exceeded the national average.

Gov. J.B. Pritzker is still mulling action on legislation Mayor Lori Lightfoot says will add to the city's considerable fiscal burdens.

Joliet will finance new infrastructure with a mix of revenue borrowing and state and federal loans in an agreement that will bring Chicago $30 million annually.

The Illinois legislature passed a pension benefit enhancement for a group of Chicago firefighters. If Gov. J.B. Pritzker signs it, local taxpayers will pay up.

ISFA board member Leslie Darling will take over the role of board chair.

Illinois lawmakers chose a new speaker this week after a lame-duck session that could add to Chicago's and the state's budget strains.

Chicago's CFO turned to short-term borrowing to see whether the federal government comes through with aid to make up for the COVID-19 pandemic's tax blows.

The budget cleared the Chicago City Council Tuesday. Rating agency and buy side reviews on the final plan will come next.

The Finance Committee signed off on new money, refunding, and scoop-and-toss debt restructuring deals and finance teams to assemble and sell the bonds.

Chicago Mayor Lori Lightfoot is promoting a $950 million restructuring that adds three years to the city's debt service schedule as present value neutral when factoring in savings from a more traditional $750 million refunding.

Mayor Lori Lightfoot's budget plan strikes the right balance between structural and one-time measures amid the coronavirus, says Jennie Huang Bennett.

Moody’s on Thursday joined Fitch and S&P Global Ratings in moving the city’s rating outlook to negative. It has rated Chicago at speculative grade since 2015.

By putting a negative outlook on its BBB-minus rating, Fitch leaves Chicago little room to avoid being saddled with a second speculative-grade rating.