State of Illinois

S&P moved Illinois' outlook to stable from negative amid revenue numbers that beat pandemic-driven low expectations. The rating remains the lowest among states.

The Illinois attorney general and the head of conservative policy group lay out their positions next week in a case seeking to void $14 billion of state debt.

Illinois' pension crater reaches more than $300 billion under Moody's formula.

S&P said the proposed budget represents a step in the right direction but it will weigh the final budget and other developments before acting on its BBB-minus rating.

Illinois will square off with lawyers representing John Tillman next month in his 2019 case seeking to void bonds issued to fund pensions and pay down bills.

J.B. Pritzker laid out a few details of his upcoming budget proposal, saying he won't seek a tax hike and will hold spending steady.

State tax collections are faring better than predicted early in the COVID-19 pandemic but uncertainties abound, says a University of Illinois task force fiscal report.

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.

Illinois is asking state justices to resolve efforts to challenge $14 billion of outstanding general obligation bonds.

Budget woes await the state's lawmakers as they convene but Illinois' bonds are benefitting from a Blue Wave, vaccine distribution, and hunger for higher yielding credits.

The muni market headed into holiday hibernation on the last full trading day of the week.

Illinois closed Thursday on its second MLF borrowing as the program nears its expiration date.

Fiscal 2020 added another $3.8 billion to the state's unfunded pension liabilities, according to a new state report.

The state attorney general is asking the court to clarify the legal standard for denying taxpayer actions and decide if the state constitution limits GO borrowing to capital purposes.

Illinois will borrow $2 billion through the Federal Reserve's Municipal Liquidity Facility to help manage its 2021 budget gap. The state previously borrowed $1.2 billion from the MLF for its fiscal 2020 pandemic hole.

The state's backlog of unpaid bills will grow to $35 billion by 2026 if it doesn't make any structural budget fixes, according to a new forecast.

Illinois General Assembly leaders canceled the annual veto session amid rising COVID-19 cases, which means lawmakers won't act on the state budget before January.

Gov. J.B. Pritzker says preservation of the investment-grade status is "very important;" Illinois bonds traded wider after the income tax referendum failed.

The defeat of Gov. J.B. Pritzker's "Fair Tax" strikes down a pillar of his plan for the state's wobbly finances and increases risk to the state's bond ratings.

The fate of the state budget and ratings may depend on the progressive income tax ballot measure. Midwest voters also face $2.3 billion of bond measures Tuesday.