New Jersey

Atlantic City’s $72 million tax settlement with the Borgata Hotel Casino & Spa is a credit positive for the distressed gambling hub that produced “considerable” savings, according to Moody’s Investors Service.

New Jersey Gov. Chris Christie proposed in his final budget address Tuesday directing $13 billion from New Jersey Lottery into eligible pension funds to help bolster the state’s underfunded pension system.

Atlantic City is planning to issue $72 million in bonds to pay for its tax settlement with the Borgata casino.

A court ruling momentarily halting New Jersey from cutting Atlantic City’s firefighter workforce as part of its state takeover is a credit negative for the cash-strapped city, according to Moody’s Investors Service.

Atlantic City's tax settlement with the Borgata Hotel should help the distressed city move forward to deal with its other fiscal challenges, analysts said.

New Jersey lawmakers have waged battle over a proposed bill that would require the state to reimburse municipalities that defy President Trump’s ban on “sanctuary cities.”

A recent New Jersey Supreme Court decision rejecting a school funding freeze proposed by Gov. Chris Christie for 31 mostly low-income districts is a credit positive for the impacted localities, according to Moody’s Investors Service.

The first legal action challenging New Jersey’s takeover of Atlantic City finances will be decided at the local level after a federal judge sent the case back to Atlantic County Superior Court.

Municipal bond issuers in the Northeast sold $116.4 billion of debt in 2016, according to Thomson Reuters data, a 13% increase that echoed a national trend.

The owner of the former Trump Taj Mahal casino in Atlantic City is looking to sell the shuttered facility in response to a failed attempt by New Jersey lawmakers to strip him of his casino license.