Michelle Kaske

Puerto Rico this week restructured $375 million of general obligation debt to achieve near-term savings and reduce fiscal 2010 GO debt service by $198 million.

Pushing principal and interest costs out to future years has weakened the Massachusetts Bay Transportation Authority’s balance sheet, with an independent report released yesterday estimating the mass transit agency faces a cumulative structural deficit of $1.19 billion by fiscal 2014.

Moody’s Investors Service yesterday changed the outlook on the Puerto Rico Port Authority to negative from stable as the it faces $210.5 million of bank debt that will come due in fiscal 2010.

Massachusetts Gov. Deval Patrick Friday announced five members to serve on the board of the state's new transportation bonding authority, the Massachusetts Department of Transportation.

Pennsylvania's Commonwealth Financing Authority will issue $400 million of debt Wednesday, including $335.6 million of taxable Build America Bonds, for water and sewer projects throughout the state.

The Pennsylvania Turnpike Commission Thursday evening re-filed its application to the Federal Highway Administration to implement tolls on Interstate 80.

St. Mary's Hospital in Passaic has until Nov. 6 to file a reorganization plan after the health care provider filed for Chapter 11 bankruptcy in early March.

Massachusetts Gov. Deval Patrick last week released additional details of how he plans to close an estimated $600 million revenue shortfall in the fiscal 2010 budget, opting to retain local aid allocations totaling $936 million.

NEW YORK - Saint Barnabas Health Care System, New Jersey’s largest health care provider, no longer carries investment-grade ratings after Moody’s Investors Service late Thursday downgraded the credit to Ba1 from Baa2 and placed it on negative Watchlist.

As goes the New Jersey governor’s race, so goes its open space.

The U.S. Virgin Islands moved closer to cementing its relationship with rum-maker Cruzan VIRIL Ltd., as the territory’s legislature Tuesday evening approved $105 million of rum-tax bonds to update the company’s facilities.

Capital projects at higher educational institutions, prisons, and construction of a new convention center in Philadelphia could hit a financing roadblock if state legislators in November fail to pass ­Pennsylvania’s fiscal 2010 Capital Debt Act.

A second Erickson Retirement Community facility outside of Chicago is in default on its 2007 tax-exempt bonds after the nonprofit associated with it failed to make principal and interest payments due on Aug. 1 and Sept. 1.

Standard & Poor’s last week withdrew its rating on North Philadelphia Health System’s 1997A bonds after downgrading the debt to CCC from AAA.

Pennsylvania Gov. Edward Rendell last week announced a $22 million allocation towards technology companies, creating a potential 375 jobs in the industry.

Fitch Ratings last week affirmed its AA rating and stable outlook on ­Pennsylvania’s approximately $8.7 billion of general obligation debt.

New Jersey’s unemployment rate reached 9.8% in September, up from 9.6% in August, as officials estimate that the state lost roughly 12,700 nonfarm wage and salary employment positions.

Erickson Retirement Communities, developer of 19 continuing-care retirement communities throughout the U.S., filed for Chapter 11 bankruptcy Monday in U.S. Bankruptcy Court in Dallas.

Massachusetts Wednesday announced that it has resolved a termination event on the fifth and final Massachusetts Turnpike Authority swap with UBS Securities LLC as counterparty.

NEW YORK - Massachusetts Wednesday announced that it has resolved a termination event on the fifth and final Massachusetts Turnpike Authority swap with UBS Securities LLC as counterparty.