City of Chicago, IL

Rating agencies affirmed Chicago's GOratings and the first report also out on the new junior lien Sales Tax Securitization Corp. credit.

Mayor Lori Lightfoot's first budget cleared the City Council on a 39-11 vote.

The decision comes as the courts told the city it's on the hook to make up the roughly 2% shortfall in property tax collections to fully cover set payments.

The Finance Committee signed off on bond refinancing and revenue packages that are key to the 2020 budget, paving the way for a full city council vote.

Mayor Lori Lightfoot says the city can manage through 2020 and will wait for the 2020 session to resurrect requests.

The Chicago Civic Federation supports the proposed budget despite worries

Chicago now expects to bank $215 million in upfront debt refinancing savings from a bond refinancing it expects late this year or early next.

The junk-rated school district revised its fiscal 2020 budget to reflect the contract that ended a teachers' strike, but long-term questions remain.

The Chicago Park District would phase in actuarially determined pension payments under a funding plan that still needs state legislative approval.

Illinois lawmakers wrapped up the first half of their annual fall veto session leaving tough legislation for the second half, beginning Nov. 12.