a tall building in a city


BOND BUYER: How coronavirus will spread Illinois fiscal pain to local agencies

April 23, 2020

Rating agencies and investors increasingly expect Illinois will push some of its worsening fiscal pain off to cities, schools, and transportation agencies as the state government grapples with plunging revenues caused by the COVID-19 pandemic. "We never had a revenue problem. We have now accomplished the trifecta of disaster: bad planning, negligent budgeting and now less revenue," said Brian Battle, director of trading at Chicago-based Performance Trust Capital Partners. "Our ability to generate revenue has always masked our deficiencies. We've lost the mask."

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