Harrisburg Mayor OKs Verizon Bond Settlement, Demands Probe
Harrisburg, Pa., Mayor Eric Papenfuse on Friday signed off on a restructuring agreement for bonds tied to the city's Verizon Center building despite his objections, and called for an investigation into the original 1998 bond deal.
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Pennsylvania Treasurer Rob McCord resigned late Friday, effective immediately, as news reports swirled that he will plead guilty to charges of threatening would-be campaign contributors with the loss of state business.  more »
Attorney Lisa Grasso Egan will serve as Connecticut's undersecretary for labor relations, state budget director Benjamin Barnes announced Jan. 30.  more »
Puerto Rico's House of Representatives on Thursday passed bills authorizing a bond up to $225 million for public works.  more »
Connecticut's Bond Commission approved $5.1 million to create two microgrid projects in Bridgeport and Milford that will help keep critical buildings and facilities powered in case the electric grid goes down.  more »
The appointment of an emergency manager for Atlantic City has led many to question whether the city is heading for bankruptcy, which would mark long uncharted territory for the Garden State.  more »
State Treasurer Deborah Goldberg wants lawmakers to increase the Massachusetts lottery advertising budget by 25% to offset casino competition.  more »
A proposal in New York Gov. Andrew Cuomo's 2015 executive budget to allow the Long Island Power Authority to securitize an additional $2.5 billion of debt is a credit positive for the utility, according to Moody's Investors Service.  more »
Massachusetts Treasurer Deborah Goldberg, who took office Jan. 21, named five deputy treasurers.  more »
Board approval of fare and toll increases for New York City subways, buses, bridges and tunnels is a credit positive for the Metropolitan Transportation Authority, said Moody's Investors Service.  more »
Light snow seasons and heavy snow seasons cost much more than average snow seasons on a cost-per-inch basis, said New York City Comptroller Scott Stringer.  more »
Doral Financial in San Juan, Puerto Rico, said that the FDIC has placed its bank under a prompt corrective action directive, an enforcement order that is often considered one of the last public warnings before regulators move to place the bank into conservatorship.  more »
The calendar and a stronger sense of storm preparedness will help soften the blow of this winter's first major Northeast blizzard, capital markets observers said Tuesday.  more »
Standard & Poor's dropped Atlantic City, N.J. to a junk-bond rating with a four-notch downgrade and placed the rating on credit watch with negative implications.  more »

The Commonwealth of Puerto Rico has a long history of fiscal uncertainty and structural deficits. Responding to decades of general fund deficits in 2014, the rating services lowered the ratings on the Commonwealth’s general obligation credit to below investment grade, or junk status.

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