State of Illinois

Illinois Comptroller Susana Mendoza talks with Yvette Shields about the state's progress on building up reserves and paying down debts that have helped lift the state's bond ratings, efforts to make further headway and the challenges of making sure fresh legislative faces understand the pains suffered during the two-year budget impasse. (35 minutes)

The Skyway sale "proves that sophisticated global investors who can buy assets anywhere view Chicago as a great place to invest," said a spokesperson for Mayor Lori Lightfoot.

Illinois trimmed yield penalties in its latest sales tax-backed sale with spreads of 40 and 45 basis points on its 10-year compared to 89 bp three years ago.

Illinois' tardy fiscal 2020 financial statements offer a view of COVID-19's early impact on the state's finances.

After more than a decade of ratings deterioration, the lowest-rated state won an upgrade Tuesday, taking its Moody's rating to Baa2.

Fitch revised Illinois' outlook to positive but the rating remains BBB-minus, the lowest investment grade.

The budget pays off Municipal Liquidity Fund loans, goes easier on local governments, cuts some corporate incentives, and begins drawing down federal relief.

The state Supreme Court upheld with the original circuit court ruling tossing out the lawsuit, which sought to invalidate more than $14 billion of GO bonds.

Gov. J.B. Pritzker is now willing to fully fund a scheduled education funding hike but other contentious issues remain, notably corporate tax breaks.

Municipal bond issuers in the State of New York accounted for half of the top 10, while issuers from California held two of the top four spots.