Federal operating aid will help manage the Illinois Regional Transportation Authority's expected tax and farebox hits this year but storm clouds loom.

In a letter sent to the Fed Thursday night, House Financial Services Committee Chairwoman Maxine Waters said she wanted more issuers to participate in the Fed program.

Forecasts see contraction of 5.3% to 7.4% this year and recovery in 2021.

A complete disconnect between liquidity providers and seekers exposed the market’s inefficiencies: an asset class dominated by a limited investor base—retail investors—has grown increasingly concentrated.

In the wake of the COVID-19 pandemic, the city's budget shrinks by $6 billion.

Its series of responses provides a greater understanding of the city’s history, says NYU Wagner's Mitchell Moss.

The downgrade brings Fitch into alignment with Moody's and S&P, and the negative outlook leaves Illinois without any rating room above speculative grade.

Their governors are pressing the Trump administration to support more relief that directly addresses revenue blows