Finance

The state's appropriation backed debt was also upgraded.

Revenue volatility and bond-rating agency opinions can complicate states' rainy-day planning.

The reduction is slightly smaller than 6.9% cut in the current fiscal year that ends Sept. 30.

Municipal bonds turned weaker at midday as the market looks ahead to next week’s healthy new issue calendar.

"This is deeply troubling," treasurer Joe Torsella said of the commonwealth's revenue situation

The rating agency cited a liquidity boost from its sewer-system sale.

Little activity is expected in the municipal bond market ahead of next week’s new issue slate.

Wisconsin's Foxconn incentives package paves way for $252 million in highway borrowing and local government financing help.

Top quality municipal bonds ended stronger on Thursday, traders said, as the last of the week’s big deals hit the screens.

With no asset to show for more than $4 billion of debt, Santee Cooper’s bonds were downgraded by S&P.

Assured Guaranty Ltd., the largest municipal bond insurer, reported gains in second-quarter profit, boosted by share repurchases and lower reserve additions for Puerto Rico losses.

A federal judge appointed an attorney to facilitate an agreement between Flint and the Michigan Department of Environmental Quality.

Top quality municipal bonds were stronger at mid-session, traders said, as the last of the week’s big deals hit the screens.

Municipal bond traders are set to see the last of the week’s big deals hit the screens as several large competitive deals remain on tap.

Illinois Gov. Bruce Rauner's veto of school aid legislation jeopardizes school funding and ratings, Fitch reports.

Municipal bonds finished mixed in secondary trading Wednesday, while a big North Carolina bond deal priced Massachusetts sold several large note offerings in the primary.

Increased state aid can stabilize Indiana schools' credit for a couple of years, but benefits will ultimately be offset by higher costs, S&P says.

Pontiac and Lincoln Park, two Michigan cities, gain control over their internal operations and finances.

Action got started right away on Wednesday, as the big North Carolina bond deal priced early on Wednesday, while muni yields are unchanged to slightly lower.

After issuing $4.2 billion of bonds to finance two new nuclear reactors, Santee Cooper said the project was no longer affordable.