Tonya Chin

Rockland County, facing a possible $40 million budget gap, saw its rating drop to BBB-minus by Standard & Poor's after it failed to get approval to issue deficit-reduction bonds.

Standard & Poor's revised the Government Development Bank of Puerto Rico's outlook to negative from stable.

Abington Health and Holy Redeemer Health System have announced their intent to merge into a new regional Pennsylvania health system.

The New York State Thruway Authority's $1.1 billion sale of general revenue bonds met high demand last week, despite being placed on negative outlook by credit rating agencies.

The Port Authority of New York and New Jersey has selected four firms to provide underwriting services for the World Trade Center redevelopment.

The high amount of approved budgets among New York school districts is a credit positive for the sector, said Moody's Investors Service in a recent report.

In its largest deal since 2008, the Long Island Power Authority will sell $500 million of revenue bonds on Wednesday to fund capital expenditures and to refund outstanding debt.

New York's legislature adjourned Thursday without approving deficit reduction bonds issuances for Long Beach and Rockland County, which Moody's Investors Service calls a credit negative.

Moody's Investors Service dropped Burlington, Vt.'s general obligation rating three notches, citing the city's strained finances caused by its support to Burlington Telecom, the city-owned cable, Internet and phone service provider

Moody's Investors Service has downgraded to A2 from A1 the outstanding general obligation debt of the Ticonderoga Central School District in northeast New York, and assigned a negative outlook.

Both Moody's Investors Service and Standard & Poor's have revised their outlooks on New Jersey's junk-rated Palisades Medical Center to positive from stable.

The New York State Environmental Facilities Corp. will sell $312 million of refunding bonds for the New York City Municipal Water Finance Authority this week for an estimated $46 million in savings.

The DASNY board approved $1.1 billion in financings for higher education and health care institutions at its board meeting on Wednesday, including a $600 million bond sale for New York school districts.

Moody's Investors Service said Rockland County management has taken a proactive approach to closing its budget gap and took its Baa3 rating off review for further downgrade.

Lacking a financial plan for the $5 billion Tappan Zee Bridge replacement, the New York State Thruway Authority received negative ratings outlooks.

Despite a downgrade to Ba1 by Moody’s Investors Service, the Temple University Health System saw strong demand for $311 million of revenue and refunding bonds issued through the Philadelphia Hospitals and Higher Education Facilities Authority.

More Puerto Rico bonds are coming to market on Tuesday in a $78 million sale of higher education revenue debt and revenue refunding bonds.

PNC Capital Markets LLC has hired Rob Dailey to lead its public finance banking business.

The Port Authority of New York and New Jersey sold $600 million in two competitive offerings on Wednesday, saving about $57.3 million on the refunding portion.

Standard & Poor's has revised its outlook on the New York State Thruway Authority's general revenue bonds to negative from stable based on possible lower debt service coverage.