Michelle Kaske

Massachusetts next week plans its first-ever bond sale from the Commonwealth Transportation Fund, a new credit that grabbed triple-A ratings last week from Moody’s Investors Service and Standard & Poor’s.

The Berkshire Wind Power Cooperative Corp. this week will sell $66.3 million of revenue bonds, including Build America Bonds, to help finance a wind power project in western Massachusetts.

Puerto Rico last week released a request for proposals that will begin the bidding by four short-listed contenders to run and maintain its busiest toll road.

Moody’s Investors Service last week downgraded the city of Reading to Baa2 from Baa1 as the city plans to issue $36.7 million of general obligation debt this week. The action affects $68.6 million of debt. Reading has nearly $220 million of long-term debt outstanding. The downgrade is due to historical budget deficits and limited liquidity.

New Jersey’s largest health care provider, Saint Barnabas Health Care, was upgraded to investment grade last week, with both Standard & Poor’s and Fitch Ratings boosting the credit to BBB-minus from BB-plus.

The New Jersey Turnpike Authority Wednesday will issue $1.5 billion of taxable Build America Bonds following Moody’s Investors Service’s revision of the credit’s outlook to negative from stable.

Gov. Chris Christie Thursday announced that the New Jersey Transit Authority hired the Washington law firm Patton Boggs LLP to help the state challenge the Federal Transit Administration’s demand that it repay $271 million in federal money the state spent on a canceled commuter-rail tunnel.

Pennsylvania Treasurer Robert McCord Wednesday sent a letter to governor-elect Tom Corbett asking for his input on a stalled $1 billion new-money debt issuance that includes Build America Bonds.

Financial analysts Wednesday warned the Delaware River Port Authority that delaying a planned July 1 toll increase could result in rating downgrades of the bi-state agency, which could then prompt a payment of about $220 million on two of the agency’s swaps.

The Camden County Pollution Control Financing Authority is set to pay off a $25.2 million incinerator debt to bondholders on Wednesday.

Standard & Poor’s Monday upgraded to BBB-minus from BB-plus $335 million of Saint Barnabas Health Care System debt.

Standard & Poor’s Monday revised its outlook on Puerto Rico’s $9 billion of general obligation debt to positive from stable as the commonwealth plans to issue up to $350 million of tax-exempt GO bonds to restructure existing debt and refinance variable-rate bonds.

Standard & Poor’s revised its outlook Monday on Puerto Rico’s $9 billion of general obligation debt to positive from stable in response to austerity measures the commonwealth has undertaken to end its structural deficits by fiscal 2013. The measures include spending reductions and revenue enhancements.

The Massachusetts Bay Transportation Authority is set to issue $263 million of sales-tax debt this week or next to help finance capital projects and restructure existing debt for immediate savings.

The nation's first offshore wind farm — to be located in Nantucket Sound — secured its first customer last week as National Grid will purchase 50% of the project's energy production.

NEW YORK - Harrisburg Mayor Linda Thompson Tuesday evening released a $56.5 million budget proposal for 2011 that does not include debt-service payments for $282 million of outstanding incinerator debt guaranteed by Pennsylvania’s capital city.

New Jersey selected Bank of America Merrill Lynch to help the state refinance its school construction debt and address letters of credit that are set to expire in 2011.

The Camden County, N.J. , Pollution Control Financing Authority will tap into various dedicated funds to avoid defaulting on $26.1 million of incinerator debt due Dec. 1.

Moody’s Investors Service Tuesday revised Pittsburgh’s outlook to negative from stable as Pennsylvania’s second-largest city may face large pension contribution increases if its retirement fund falls under state oversight.

New Jersey’s not-for-profit hospitals avoided cuts in state aid for the current fiscal year, but that could change for the fiscal 2012 state operating budget, according to Moody’s Investors Service.