Paul Burton

Connecticut will receive a credit of about $900,000 from the three major rating agencies as part of a settlement from a lawsuit it initiated, accusing the three of unfairly lowering ratings.

A judge on Monday placed the Chapter 9 bankruptcy filing by Harrisburg's City Council on hold for a month, while a few blocks away in Pennsylvania's capital, lawmakers continued their push for a state takeover of the struggling city.

The Hudson Yards Infrastructure Corp. plans a $1 billion sale of senior revenue bonds through negotiated bid Wednesday after a one-day retail period, primarily to fund the extension of New York City's No. 7 subway line.

In 2003, the City Council in Harrisburg, Pa., voted 6 to 1 for a $125 million loan to fix up its local incinerator, formally known as the Resource Recovery Facility.

A $50 million housing issue that voters approved in 2006 has led to the development of more than 1,200 homes in Rhode Island, an advocacy group said.

After four years on the market, Philadelphia’s Please Touch Museum sold its old building near the Franklin Institute to the Isen Trust.

Pennsylvania collected $2.3 billion in general fund revenue in September, which was $151.8 million, or 6.1%, less than expected, Secretary of Revenue Daniel Meuser reported.

The Pennsylvania State Employees’ Retirement System has replaced two firms that had advised it in buying private stock, bond, hedge fund, and venture capital investment since the 1990s, the Philadelphia Inquirer reported.

Pennsylvania Gov. Tom Corbett appointed Charles Kopp, Boise Butler 3d, John Soroko and James Shacklett 3d to four-year terms on the Philadelphia Regional Port Authority.

President Obama approved New York State’s request to expedite the review and approval process to allow work to begin on the replacement of the Tappan Zee Bridge between Westchester and Rockland counties.

The New York City Transitional Finance Authority sold $758 million of future tax-secured, fixed-rate subordinate bonds last week by negotiated sale.

The Massachusetts Pension Reserves Investment Management Board approved a plan aimed at increasing investments with smaller money-management firms.

Connecticut Gov. Dannel Malloy announced the award of $5 million to 11 cities, towns, and regional planning organizations for transit-oriented development aimed at improving links between communities and their transportation infrastructure.

The City Council votes by a narrow majority to file for bankruptcy. The mayor opposes the filing, as does the city solicitor. The state has a bankruptcy restriction in place — which opponents say is too loosely written — and will likely pass a bill next week bill authorizing a takeover of its capital city.

U.S. public finance issuers, especially in the Northeast, have survived the initial effects of Hurricane Irene and Tropical Storm Lee, Moody's Investors Service reported, though many local governments may face further challenges as they sift through the damage.

Harrisburg's Chapter 9 bankruptcy filing immediately raised questions about the legality of the move as experts pondered the impact on the municipal bond market.

For the second time in two weeks, a Pennsylvania county has received a multi-notch downgrade from a major bond rating agency.

Harrisburg sought bankruptcy protection Tuesday night after its City Council voted to authorize a filing, said the attorney representing the council. The move comes as Pennsylvania’s capital looks to avert a takeover by the state.

Nassau County, N.Y., could have a serious cash problem by the end of October unless it finalizes a budget by then, the chairman of a state-appointed oversight panel said.

New York City's Transitional Finance Authority plans to sell $750 million of future tax-secured subordinated bonds through negotiated bid on Wednesday, after a one-day retail period.