Paul Burton

The SEC's fraud accusations against Harrisburg, Pa., could be a deterrent, some market observers say, even if the city appeared to suffer little from the action.

New York's MTA named veteran transit manager Joseph Leader senior vice president for its department of subways, succeeding the promoted Carmen Bianco.

Critics say the Securities and Exchange Commission should dig well beyond its cease-and-desist order in its Harrisburg, Pa., securities fraud case.

The National Federation of Municipal Analysts honored Massachusetts with its industry contribution award for an investor web site it introduced two months ago.

Highmark Inc., which closed on a $604 million deal to take over teetering West Penn Allegheny Health System, is now under rating agency glare.

Allentown, Pa.'s 50-year, $220 million water and sewer lease deal with Lehigh Valley Authority to plug a pension gap is a credit positive, said Moody's.

Massachusetts Treasurer Steven Grossman appointed Akash Deep and Philip Shapiro to the new Massachusetts capital debt affordability committee.

The Connecticut Bond Commission earmarked $11.7 million for two Department of Transportation projects at the Stamford train station and in four other communities.

New York City Mayor Michael Bloomberg proposed a $69.8 billion executive budget that includes an additional $800 million in tax revenue beyond January forecasts.

New York University's Mitchell Moss said tolling the Van Wyck Expressway in Queens borough would generate a reliable revenue stream for the debt-strapped MTA.

Moody's Investors Service upgraded the bond rating of West Penn Allegheny Health System to Caa2 from Ca after Highmark closed on its $604 million takeover.

Highmark wasted no time taking over West Penn Allegheny Health System after regulators approved a $604 million deal that ended 18 months of turmoil and offered bondholders 87.5 cents on the dollar.

Fittingly, given dire warnings about unfunded pension liability, Allentown, Pa.'s City Council voted at the midnight hour for a $220 million water-and-sewer lease.

New York City Mayor Michael Bloomberg announced plans to transform the iconic Kingsbridge Armory in the Bronx — vacant since 1996 — into the world's largest indoor ice facility.

The Massachusetts Gaming Commission voted to open the southeastern casino region to commercial developers and left the door open to local Indians.

The Allentown, Pa., City Council late Thursday night approved a $220 million water-and-sewer lease deal with the Lehigh County Authority, with proceeds to erase unfunded pension liability.

Massachusetts has adopted more rigorous guidelines for bond refundings that state officials say will enable them to better gauge opportunities for such deals.

The Massachusetts Water Pollution Abatement Trust maintained its triple-A rating from all three major credit rating agencies in advance of its $205 million sale.

New York MTA chairman-designate Thomas Prendergast said favorable state aid might partially offset the size of a fare and toll increase in 2015.

The Lehigh County Authority said it would finance $220 million for the Allentown, Pa., water-and-sewer concession through low interest, 30-year bonds.