City of Chicago, IL

Casino tax legislation is “credit positive” for the city, Moody's said; Fitch downgraded ratings for Chicago water, sewer and school district revenue bonds.

Chicago is eyeing its second GO refinancing of the year, with savings expected to help chip away at the 2020 coronavirus-driven budget hole.

Chicago’s net pension liabilities rose to $31.8 billion in 2019 from $30.1 billion.

Mayor Lori Lightfoot and her finance team warn that this year's budget gap is getting bigger, and that painful choices are coming without federal financial aid.

Illinois lawmakers overhauled the proposed Chicago casino tax structure and awarded MPEA more flexibility to deal with its fiscal woes.

Chicago officials, who present a budget in October, are reviewing scenarios that consider how long shutdowns remain in place and what happens afterward.

Weak investment returns, assumption changes, and low contributions pushed up the cumulative unfunded liabilities of 11 local government pension funds.

Chicago’s motor fuel bonds, the city’s park district, and Cook County suffered rating or outlook cuts this week.

S&P Global Ratings changed its outlook on Chicago's BBB-plus rating to negative citing financial strains caused by the pandemic.

A new mayoral task force will work on Chicago's economic recovery effort as the city's finance team continues to assess the damage.

Chicago Mayor Lori Lightfoot says city hopes for additional federal help and won't dip into reserves or push off pension payments to manage through coronavirus-induced economic turmoil.

Lori Lightfoot's confident statements about the city's fiscal resilience aren't wholeheartedly shared by the muni buy-side as the coronavirus hurts the economy.

Smith, who headed the restructuring practice at Chicago-based McDermott Will & Emery, worked on nearly every major muni bankruptcy of the past 20 years.

The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.

Chicago Mayor Lori Lightfoot's administration is stressing the city's improved liquidity and jolt of refinancing savings provide a cushion to manage the near-term tax losses.

Illinois freed up $500 million in capital funding for a University of Illinois research center that will anchor the development.

Chicago’s $1.5 billion sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt generated $310 million of budget savings.

Chicago GOs were upsized and repriced on Wednesday to bump yields as indications of interest were taken on the Sales Tax Securitization sale.

Both the senior and the new second lien of Chicago's Sales Tax Securities Corp. are now rated AA-minus.

A healthy response to Chicago's first tender invitation is expected to bolster the savings on $1.47 billion of refinancing debt the city sells this week.