Louisiana

Eight Louisiana universities face budget cuts amid the state's fiscal crisis, prompting Moody's Investors Service to place the institutions on review for possible downgrade.

Louisiana's estimated deficit deepened as state lawmakers began meeting for a special three-week legislative session to deal with the historic budget gap.

In a newspaper column Tuesday, the governor said he would not support budget cuts that could throw universities into financial exigency and close hospitals in order to deal with Louisiana's budget crisis.

The $254.6 million of BANs were directly placed with JPMorgan at a cost of 0.52%, and will "bridge" the state through the next six or seven months, said Louisiana's financial advisor Renee Boicourt.

John Kennedy, the Pelican state's long-time treasurer, announced on his blog Tuesday that he will run for the seat being vacated by U.S. Sen. David Vitter, R-La.

Facing a $2.65 billion budget deficit, newly elected Gov. John Bel Edwards has released a slate of options that he said would deal with the largest budget shortfall Louisiana has ever faced.

Louisiana's budget deficit is a credit negative and it has a narrow window to cure its current-year shortfall, Moody's Investors Service said Monday.

Louisiana Gov. John Bel Edwards just after taking the oath of office Monday pledged to repair the state's budget and expand the state's health insurance program.

Louisiana faces a budget deficit of $2.65 billion in fiscal 2016 and 2017 that Gov.-elect John Bel Edwards and Administration Commissioner Jay Dardenne have vowed to fix.

Louisiana needs more robust sources of transportation revenues to restore its highway system, transition panel says.

Louisiana will use a short-term borrowing strategy to avoid disclosure requirements that would be challenging in the midst of a gubernatorial transition.

The way Louisiana addressed a $487 million mid-year deficit with one-time budget cuts exacerbates credit pressures facing the state, Moody's Investors Service said.

Recent actions by Louisiana lawmakers to close a nearly $500 million budget deficit, amid uncertainties that may lead the state to privately place its next borrowing, could to pressure on the state’s credit ratings, according to Fitch Ratings.

Seven U.S. cities intend to dedicate 10% of their annual budgets toward resilience strategies under a worldwide program designed to fortify urban centers.

Louisiana legislators approved a $500 million budget deficit reduction plan by the Jindal administration, though some complained it does not address the state’s structural imbalance.

After amassing nearly $2 billion in unused bonding authority from Louisiana and Florida the past few years, BioNitrogen Holdings Corp. filed for Chapter 11 bankruptcy on Nov. 3.

Five big southeast airports have major capital plans underway, including Ft. Lauderdale-Hollywood International Airport, for which Broward County, Fla. is selling $489 million of revenue bonds Oct. 29. Traffic Growth Helps Spur Fort Lauderdale Airport Deal

Voters in Louisiana rejected a plan to boost transportation funding at the expense of the state's rainy day fund.

A settlement between New Orleans and its firefighters’ union resolving pension and wage disputes is credit positive for the city, though it will stress city finances, Moody’s said.

Voters in Louisiana Saturday select a new governor and decide on a constitutional amendment to fund new transportation projects that opponents say could hurt the state’s credit ratings.