City of Chicago, IL

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.

Mayor Lori Lightfoot must manage demands from aldermen without damaging the city's ratings or investor sentiments on a coronavirus-driven budget with few fans.

The city needs to continue meeting pension commitments and moving to structural budget balance despite the coronavirus pandemic, the rating agency said.

Refinancing and restructuring debt plays prominently in the city's budget plans

Director and Head of the Central Region Public Finance Group, Academy Securities

“What purpose do reserves serve if we don't utilize them in times when you have a problem?” one alderman asked.

Chicago's chief financial officer said the city must consider all options given the magnitude of the pandemic in the absence of federal relief for lost revenue.

On Friday, municipals finished little changed, with yields remaining steady along most of the AAA GO scales.

Chicago Mayor Lori Lightfoot announced several modest replacement programs Thursday with an eye toward expansion in the coming years.

Municipal Market Analytics' view of Chicago's bonds turns further south as the city looks to solve a deep budget hole.

Chicago Mayor Lori Lightfoot's administration is weighing more debt refinancing, layoffs and tax hikes to fully close the budget gap

Mayor Lori Lightfoot's administration isn't giving much hint as to how the city will pay for a plan to replace lead water service lines.