Tonya Chin

Moody's Investors Service said the settlement arrived at between the New Jersey Meadowlands Commission and Lyndhurst regarding unpaid township property taxes is a credit positive.

Two New Jersey counties (Union and Monmouth) and one in New York (Monroe) will come to the market this week with competitive offerings to finance capital improvements.

After receiving confirmation of its Baa3 rating, Long Beach, N.Y., plans to issue $5 million of cash-flow notes late next week.

Nassau County, N.Y., is planning to issue up to $192 million of general obligation bonds to pay for property tax refunds and other settlements — with or without approval from its control board, the Nassau County Interim Finance Authority.

The Maine Turnpike Authority, operator of a primary travel corridor through southern Maine, is proposing toll increases that would raise $26.5 million to meet its present and long-term financial needs.

In one of the largest deals scheduled for the municipal market this week, the Dormitory Authority of the State of New York is expected to sell $2 billion of state personal income tax revenue refunding bonds on Wednesday.

Moody’s Investors Service revised the outlook to negative from stable on the Philadelphia School District’s general obligation bonds, and affirmed its underlying Ba1 rating.

Moody’s Investors Service affirmed its Aa1/VMIG 1 letter-of-credit-backed rating of the Philadelphia Gas Works revenue refunding bonds, fifth series A-2. Around $30 million of debt is affected.

New York school districts may be forced to reduce fund balance levels to meet rising expenditures in the absence of revenue growth, Moody’s Investors Service said in a report.

Nassau County, in New York's Long Island, received strong retail demand for the $218 million of short-term notes sold Thursday, with over $1 billion dollars in orders, said deputy county executive of finance Tim Sullivan.

Around $600 million of Puerto Rico bonds are coming to the market on Thursday, one day after Standard & Poor's revised the commonwealth's outlook to negative.

After recent downgrades, Long Island, N.Y.'s two financially troubled counties each plan to go to market this week to issue a combined $280 million of debt.

After seeing its bond rating slashed three-notches and facing the potential for another downgrade that would put it in junk territory, one of New York's wealthiest counties is experiencing higher borrowing costs.

The Buffalo Fiscal Stability Authority’s transition to an advisory control board from the “hard” control board it has been is a credit positive for Buffalo, N.Y.,, Moody’s Investors Service said Monday.

Rockland County, N.Y.’s Legislature last week passed a resolution to impose a new 4% tax on utility bills to help close the county’s $21 million budget gap.

A $20 million bond proposal died in the Maine House on Thursday after falling short of the votes needed to override Gov. Paul LePage’s veto.

Collingswood, N.J., Mayor James Maley late last month compared the junk bond rating assigned to his city to a gigantic nose pimple, because it “doesn’t really affect how you operate, but it makes you look really bad.”

The New York State Thruway Authority, faced with refinancing $868 million of short-term debt next month and a declining debt-service coverage ratio, is taking steps toward future toll hikes.

After nine years under a state-appointed control board, Buffalo, N.Y., will enter fiscal 2013 with new financial freedom.

The Dormitory Authority of the State of New York sold $140 million of new-money and refunding revenue bonds for triple-A rated Columbia University on Wednesday, after retail priced the same day.