State of Illinois

The threat of a junk bond label took center stage when Illinois lawmakers passed a budget.

There are times when there is no better alternative to a tax increase.

After two years Illinois finally got a budget, but this week the municipal bond market will be eying the state’s credit rating.

Breaking a record two-year budget impasse drove a dramatic easing of Illinois' spread penalties.

Liquidity and pension woes still remain after Illinois enacted its first budget since 2015.

Moody's Investors Service said it has placed Chicago's Ba1 general obligation rating under review for possible downgrade.

The Illinois House overrode Gov. Bruce Rauner's veto to enact the first state budget in two years.

Illinois could still see its rating cut to junk, as Moody's raises concerns over the shortcomings of a partisan budget deal.

If the Illinois House succeeds in overriding Gov. Rauner's budget veto, Chicago's pension restructuring becomes law.

Chicago and Illinois spreads got a boost as two years of state gridlock appeared to be nearing an end.