State of Illinois

The affirmation at Baa3 removed the threat Moody's would send Illinois to junk.

The concerns have arisen in the weeks following a round of budget negotiations that was particularly tough for several states.

The Illinois governor says he will use his amendatory veto powers to shift some Chicago school aid to other districts.

Fitch took Illinois off negative watch, while keeping a negative outlook on its BBB rating.

The end of the two-year budget drought in Illinois is a mixed bag for “downstream” credits.

Municipal bond traders are returning to work on Monday set for the week’s $7.66 billion new issue calendar. The slate is composed of $3.99 billion of negotiated deals and $3.67 billion of competitive sales.

The primary municipal bond market will keep chugging along next week, with participants set to see more action than they did in a fast and furious past week.

Municipal bond traders are waiting to see how much volume the market will encounter next week as they eye volatile muni yields.

Chicago is expected to take advantage of the new debt vehicle authorized in the Illinois budget.

The end of a two-year old budget impasse led S&P to affirm Illinois and assign a stable outlook.