Massachusetts

Boston has the nation's oldest public transportation system, and the most leveraged. So far, one-shot measures have filled shortfall's but critics complain.

The Massachusetts House on Wednesday will take up a bill to close most of the $51 million deficit in the Massachusetts Bay Transportation Authority’s budget for the fiscal year beginning July 1.

The Massachusetts Water Pollution Abatement Trust became the first state revolving fund in the country to sell its bonds through a combined offering of negotiated and competitive sale processes, according to Massachusetts Treasurer Steven Grossman’s office.

The Massachusetts Bay Transportation Authority plans a $415.6 million sale of Series 2012A assessment bonds on Thursday, after a one-day retail period.

The Massachusetts Water Pollution Abatement Trust on Tuesday held a retail period for $242 million of state revolving fund bonds.

Massachusetts will return to the market Tuesday when it sells $350 million of general obligation bonds through competitive sale.

The triple-A bond ratings Moody’s Investors Service and Standard & Poor’s assigned to the Massachusetts’ accelerated bridge program’s recent $419 million bond sale saved an estimated $23.5 million in overall borrowing costs, according to state officials.

Massachusetts is scheduled to sell $419.3 million of commonwealth transportation fund revenue bonds by competitive bid under its accelerated bridge program.

Massachusetts' request for qualifications for public finance investment banking and underwriting services — its first in four years to pre-qualify banks to use in negotiated sales — has elicited widespread responses, state Treasury officials say.

Susan Perez is the new executive director of the Massachusetts Water Pollution Abatement Trust, state Treasurer Steven Grossman announced.

Moody’s Investors Service affirmed the Baa1 rating assigned to Boston Medical Center’s bonds, and revised the outlook to stable from negative.

A court ruling that relieves Boston of its financial obligation to a police education incentive program is a credit positive, Moody’s Investors Service said.

State Treasurer Steven Grossman appointed Enrique Zuniga to the nascent five-member Massachusetts Gaming Commission.

Boston will go to market again on Wednesday with $238 million of new-money and refunding general obligation bonds sold through competitive bid.

Standard & Poor’s revised the outlook to stable from negative and affirmed the BB-plus long-term rating on the Massachusetts Development Finance Agency’s revenue bonds that were issued for Eastern Nazarene College of Quincy, Mass.

Moody’s Investors Service affirmed Simmons College’s Baa1 rating, and revised its rating outlook for the Massachusetts institution to positive from stable. The move affects about $182 million in debt.

Standard & Poor’s revised its outlook to stable from negative and affirmed its BBB-plus ratings on the Massachusetts Development Finance Agency’s Series 2008 and 1998 bonds issued for the Boston Medical Center.

The $100 million retirement fund for Lexington, Mass., is making its initial infrastructure investment, which could exceed $6 million.

The Cohasset, Mass., town manager says his objections to a request for proposals for a water service contract triggered his suspension by the board of selectmen, which wants to fire him.

Massachusetts Treasurer Steven Grossman has named Jack McCarthy the permanent executive director of the Massachusetts School Building Authority.