State of Illinois

Illinois has spent about $170 million on coronavirus-related expenses so far, and Gov. J.B. Pritzker said more information on the budget impact is coming.

S&P shifted its outlook the Illinois public universities it rates to negative as questions abound over how the state will manage revenue losses.

Moody’s revised its outlook on Illinois’ Baa3 rating to negative from stable; a university study warns of a worst-case $28 billion multi-year revenue hit.

The state's ratings are low investment grade, but the secondary market is pricing its bonds as high-yield.

S&P Global Ratings moved its outlook on Illinois' BBB-minus to negative from stable on "worsening economic conditions," an action that also impacted sales tax, convention center and sport facilities' bonds.

Gov. J.B. Pritzker said the state can afford to keep paying for critical services as the coronavirus toll mounts.

Thirty-six firms made the cut, and eight didn't, when Illinois reviewed broker-dealer qualifications for new underwriting pools.

The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.

Other Midwest legislatures are canceling sessions or weighing early spring breaks to slow the spread of COVID-19.

S&P sees positives in Gov. J.B. Pritzker's proposed fiscal 2021 budget but they don't move the rating dial given a daunting bill backlog and pension strains.