New Jersey

Almost 10 months after Hurricane Sandy battered coastal New York and New Jersey, storm-struck municipal and county governments are still trying to regain their financial footing.

Moody's Investors Service has put the Ba2 rating of Somerset Medical Center on review for a downgrade, affecting $80 million in outstanding debt.

In an action that could affect numerous transactions across the country, the Internal Revenue Service has determined that revenue bonds issued by a New Jersey authority for the Deborah Heart and Lung Center are taxable because the borrower entered into a total return swap.

A continued slide in Atlantic City's casino revenues will add pressure to the city government's finances, Moody's Investors Service and Standard & Poor's says.

New Jersey government adopted a $33 billion fiscal year 2014 budget on Friday when Gov. Chris Christie signed it.

Fitch Ratings has upgraded Essex County, N.J.'s general obligation and county guaranteed bonds to AA from AA-minus.

Standard & Poor's upgraded Palisades Medical Center to the investment grade BBB-minus from the speculative grade BB-plus on Wednesday, citing its improved balance sheet.

Standard & Poor's Ratings Services said it raised its long-term and underlying ratings on the New Jersey Health Care Facilities Financing Authority series 2002 and 1999 bonds issued for the Palisades Medical Center obligated group to BBB-minus from BB-plus.

Standard & Poor's dropped the rating on Rutgers University's general obligation debt to AA-minus from AA, citing risks associated with the planned merger with University of Medicine & Dentistry of New Jersey.

Moody's Investors Service has downgraded Mercer County, N.J. general obligation debt to Aa2 from Aa1.

New Jersey Sen. Frank Lautenberg, who worked on several bills that would have affected the municipal bond market, died on Monday of viral pneumonia.

Moody's Investors Service downgraded Rutgers, The State University of New Jersey, to Aa3 from Aa2.

The Port Authority of New York and New Jersey has dismissed three senior members of its treasury staff.

New Jersey legislative budget and finance officer David Rosen is projecting the state will collect $700.6 million less in the next two fiscal years than the state's executive branch has predicted.

The Rockefeller Foundation selected eight cities to participate in the RE.Invest Initiative, a national effort to support sustainable infrastructure that includes financial advice on P3 options.

New Jersey intends to fund its pension system, an official in the state treasury department said, responding to a newspaper report that a bond document indicated there was no assurance payments would be made in future years.

The Port Authority of New York and New Jersey voted Wednesday to use a public-private partnership to replace the Goethals Bridge between New York and New Jersey.

New Jersey is seeking applications from the state's colleges and universities for $750 million in bonds approved by voters in the Building Our Future Bond Act in November.

The New Jersey Turnpike Authority is selling $1.4 billion in revenue bonds to support a $7 billion capital program.

Standard & Poor's has concerns about the $32.9 billion budget for fiscal 2014 that New Jersey Gov. Chris Christie proposed in late February.