Pensions

PREPA says it is short on money and Genera's parent company has said it may go out of business.

A bankrupt city's only asset is mired in its history of corruption and a statewide fight over utilities privatization.

Pension analysts are calling for higher contributions even as financial conditions improve.

Cook County released its $9.89 billion executive budget recommendation, with officials saying it includes no new taxes or layoffs.

Fitch upgraded Chicago's issuer default rating and GO debt rating to A-minus from BBB-plus and the city's sales tax securitization bonds to AAA from AA-plus.

While it may cost the city more to sell its bonds, the negative outlook could increase market participation, one analyst said.

Congress has taken no significant action on bills that would stop the depletion of the United States Virgin Islands' government pension system for 21 months.

Moody's Investors Service bumped Chicago's outlook to positive from stable, while affirming the city's Baa3 issuer and general obligation bond ratings.

For the three-month period ending June 30, the fund's investments returned about 3.08%.

The Senate proclamation says Shields left behind "an indelible mark on the public finance industry."