Michelle Kaske

SAN JUAN — Puerto Rico plans to issue $295 million of new-money general obligation debt by June 30, its first such borrowing in more than two years.

The Government Development Bank for Puerto Rico’s economic activity index increased slightly to 127.2 in February, the first increase since October.

The New York Senate last week unanimously confirmed Kenneth Adams as president and chief executive officer of the Empire State Development Corp.

Amtrak is seeking $1.3 billion of federal high-speed rail funds to help build two new train tunnels under the Hudson River, linking New Jersey and New York, and expand high-speed rail on the Northeast Corridor.

New Jersey Gov. Chris Christie last week announced 10 professionals who will help advise his administration on ways to reform the state’s higher education system and make it more competitive.

Pennsylvania’s capital city of Harrisburg should pursue negotiations with stakeholders to work out repayment of its outstanding debt before resorting to filing for bankruptcy.

The New York City Independent Budget Office Tuesday released its annual list of potential spending cuts and revenue enhancements, including a proposed waste-to-energy plant that could generate $29 million of savings per year.

Officials anticipate blending fixed-rate bonds and floating-rate debt to grab a lower all-in borrowing cost on $1.28 billion of tax-exempt Liberty revenue bonds that will help finance construction at the World Trade Center.

With a revamped marketing push to attract investor interest, Philadelphia this week will sell $272.2 million of tax-exempt general obligation debt to finance ongoing capital projects and refund earlier bonds for debt-service savings.

Standard & Poor’s last week downgraded Providence to BBB-plus from A as it faces structural deficits and weakened finances.

Standard & Poor’s last week upgraded to BBB from BBB-minus Puerto Rico Aqueduct and Sewer Authority Series 2008A and Series 2008B revenue refunding bonds that are guaranteed by the commonwealth.

Moody’s Investors Service last week revised its outlook on $2.74 billion of Aa3-rated University of Pittsburgh Medical Center debt to positive from stable.

Nassau County last week opted to drop its lawsuit against the Nassau County Interim Financing Authority to end a control period that NIFA implemented in late January.

Gov. Andrew Cuomo last week nominated Cesar Perales to become New York’s next secretary of state.

After a history of budget stalemates and missed deadlines, the New York State Legislature Thursday passed a $132.5 billion fiscal 2012 budget during a late-night voting session.

Cravath, Swaine and Moore LLP will file Thursday its analysis of a potential bankruptcy filing for Harrisburg, Pa., but the City Council may not release that report to the public until next week.

The Dormitory Authority of the State of New York Wednesday approved more than $2 billion of long-term debt, including $1.5 billion of personal income-tax revenue bonds, to help finance infrastructure projects at higher educational institutions and other capital needs.

New Jersey Treasurer Andrew Sidamon-­Eristoff Tuesday told lawmakers that Gov. Chris Christie would not sign a fiscal 2012 budget that includes a tax hike on the state’s top earners.

Wells Fargo Securities will be senior manager on a $500 million New York City Transitional Finance Authority refunding deal that is set to price April 6.

The New Jersey Office of Legislative Services Monday said its fiscal 2012 revenue estimates are similar to the governor’s projections, but cautioned that next year’s budget may need to include additional spending for schools.