Paul Burton

New Jersey's unfunded pension liability will probably worsen because the state does not plan to fully fund its actuarial annual required contributions to pensions until fiscal 2018, Fitch Ratings said Tuesday.

The Triborough Bridge and Tunnel Authority will offer a mandatory tender and purchase Tuesday of all three outstanding series of its variable-rate general revenue bonds, Series 2003 and 2005, totaling about $535 million.

The Pittsburgh City Council is scheduled to vote Tuesday on a sale of $125 million in general obligation bonds. Officials say it’s the city’s largest bond ever, and the first new debt issued under Mayor Luke Ravenstahl.

Anyone who needed a wakeup call got one 10 days ago when Moody's Investors Service threw a high, hard one at Connecticut, lowering the state's general obligation bond rating to Aa3 from Aa2, citing budgetary and pension shortfalls, and depleted reserves.

Rhode Island’s cash advance to East Providence is a credit positive for the financially strapped city, according to Moody’s Investors Service.

PFM Advisors, a division of PFM Asset Management, has named Biagio Manieri director of research.

Another player in the Harrisburg debt crisis intends to seek office.

Capital city Harrisburg’s incinerator debt crisis is on the radar of federal investigators, the Patriot-News reported.

The Dormitory Authority of the State of New York’s board has approved $534 million in financings for higher education and health care institutions.

The New York City Municipal Water Finance Authority priced $400 million of second-resolution, fixed-rate tax-exempt bonds through negotiated sale Tuesday.

A ruling by a New Jersey tax court that the Red Bull Arena soccer stadium in Harrison is a taxable property is a credit positive for that community, Moody’s Investors Service said.

Rhode Island has received 12 proposals from vendors seeking to run the state's new defined-contribution program, which pension overhaul legislation passed last fall created.

The Metropolitan Transportation Authority may get needed relief from New York State for high borrowing fees connected with refunding bond sales, its executive director said Wednesday.

Pennsylvania lawmakers and Gov. Tom Corbett are debating what to do with Chester Upland's teetering school district, in a case that has drawn statewide and even national attention.

The New York Racing Association has failed to implement significant financial reforms after its 2008 exit from Chapter 11 bankruptcy protection, according to an audit by New York State Comptroller Thomas DiNapoli released Tuesday.

The Dormitory Authority of the State of New York on Wednesday is scheduled to refund $122 million of Memorial Sloan-Kettering Cancer Center fixed-rate, tax-exempt revenue bonds, 2003 Series 1.

The New York City metropolitan region stands to lose billion of dollars through delays in infrastructure projects, the new executive director of the Port Authority of New York and New Jersey said Monday.

Gov. Dannel Malloy on Monday announced a change to Connecticut's pension funding plan that he said will avoid a spike in the state's obligation in fiscal 2032 and avert a potential crisis.

The New York City Municipal Water Finance Authority plans to sell $400 million of second-resolution, fixed-rate, tax-exempt new-money bonds Tuesday, after a one-day retail period.

A forensic audit focusing on the incinerator bond deals largely responsible for driving Harrisburg into insolvency has prompted another request for federal investigations into the transactions.