Paul Burton

Continuing financial obligations will make Pennsylvania Turnpike debt unsustainable and tolls crushing for motorists and businesses, according to the state's auditor general.

One day after Moody's threatened to downgrade Rhode Island, a House finance panel approved an $8.2 billion budget that includes $2.5 million for 38 Studios bonds.

A New Haven official acknowledged the need to plug a budget deficit after Moody's issued the Connecticut city its second downgrade in two months.

A threat of a GO downgrade from Moody's shadowed Rhode Island's debate over the payment of moral obligation debt related to the failed 38 Studios.

Moody's late Monday lowered 38 Studios bonds to Baa1 from A2 and placed Rhode Island's Aa2 general obligation rating under review for downgrade.

Moody's Investors Service calls the expected infusion of federal funds for New York City Mayor Michael Bloomberg's $20 billion storm-resistance plan a credit positive.

Moody's Investors Service, which downgraded Woonsocket's general obligation unlimited tax rating to B3 from B2, said it could downgrade the city even further.

The University of Pittsburgh Medical Center accused Pittsburgh Mayor Luke Ravenstahl of suing it over its nonprofit status to cover a scandal in his administration, according to a court filing.

Suffolk County Executive Steve Bellone has written Governor Andrew Cuomo requesting the re-appointment of Mitchell Pally as the Suffolk County representative to the board of New York's MTA.

The Massachusetts Bay Transportation Authority — the transit system that serves Greater Boston — is staring at a $118 million gap for fiscal 2014, which begins July 1.

Providence, R.I. Mayor Angel Taveras desires $39 million in federal TIGER grant money to help fund a streetcar project he called essential to the city's comeback.

Pennsylvania's $28.3 billion budget is en route to the Senate with three weeks left in the session after the House passed it in a party-line 108-92 vote.

The New York City Municipal Water Finance Authority intends to sell $280 million of new money bonds and $120 million of refunding bonds next week.

Rhode Island's retirement system has moved to hire its first independent disability pension investigator, General Treasurer Gina Raimondo announced.

Mayor Michael Bloomberg's $20 billion plan to harden New York City from future storm damage is pricey but bold, municipal market observers say.

Massachusetts Treasurer Steven Grossman announced that a bond refinancing his office closed Tuesday will save the commonwealth more than $4 million in fiscal 2014.

Pennsylvania is probably in store for a downgrade from the rating agencies should it not overhaul its retirement system this session, its budget secretary said.

Harrisburg's receiver warned that a summary judgment ruling for incinerator creditor Covanta could push Pennsylvania's capital city to file for bankruptcy.

The Massachusetts School Building Authority will sell $500 million of senior dedicated sales tax bonds through negotiation, one week after a Moody's downgrade.

A federal judge in Rhode Island has agreed to let the state continue to implement electronic tolling equipment on the new Sakonnet River Bridge connecting Portsmouth and Tiverton.