New Jersey

The Essex County, N.J., Improvement Authority Wednesday will sell $72.6 million of lease-revenue bonds that will help Newark balance its 2010 budget.

New Jersey last week released its 2010 debt report, with school construction debt and Transportation Trust Fund Authority bonds increasing the state’s outstanding general obligation and appropriation debt by $1.25 billion to $32.84 billion.

Moody's Investors Service Wednesday downgraded Newark to A3 from A2, affecting $500 million of outstanding general obligation debt.

Delaware River Port Authority board members continue to push for a delay of toll and fare increases as its financial advisers warn of potential credit-rating downgrades and fiscal pressures the bistate agency may face if it postpones future revenue enhancements.

The Port Authority of New York and New Jersey passed a $7.17 billion operating and capital budget Tuesday for calendar year 2011 that keeps operating growth flat while boosting capital spending.

Municipal enterprise projects that are struggling to meet operating and debt-service costs could be a default risk as cash-strapped states and cities become less likely to offer such entities direct aid, according to Moody's Investors Service.

The New Jersey Turnpike Authority Wednesday will issue $1.5 billion of taxable Build America Bonds following Moody’s Investors Service’s revision of the credit’s outlook to negative from stable.

Gov. Chris Christie Thursday announced that the New Jersey Transit Authority hired the Washington law firm Patton Boggs LLP to help the state challenge the Federal Transit Administration’s demand that it repay $271 million in federal money the state spent on a canceled commuter-rail tunnel.

Financial analysts Wednesday warned the Delaware River Port Authority that delaying a planned July 1 toll increase could result in rating downgrades of the bi-state agency, which could then prompt a payment of about $220 million on two of the agency’s swaps.

The Camden County Pollution Control Financing Authority is set to pay off a $25.2 million incinerator debt to bondholders on Wednesday.

New Jersey selected Bank of America Merrill Lynch to help the state refinance its school construction debt and address letters of credit that are set to expire in 2011.

The Camden County, N.J. , Pollution Control Financing Authority will tap into various dedicated funds to avoid defaulting on $26.1 million of incinerator debt due Dec. 1.

Newark Mayor Cory Booker Friday announced that Julien Neals will serve as acting business administrator for New Jersey’s largest city, effective Monday.

The gilt-edged New Jersey Environmental Infrastructure Trust Tuesday will sell $130 million of tax-exempt debt by competitive bid to help finance water infrastructure needs throughout the state.

The New Jersey Educational Facilities Authority approved the appointment Monday of James Stephen Poole, a former director of the state’s Office of Public Finance, to head the higher-educational bonding agency.

The Essex County Improvement Authority this week may vote on an $89 million real-estate lease-back bond deal that will help Newark balance its 2010 budget.

Standard & Poor's last week changed the outlook on Atlantic City to negative from stable as New Jersey's gambling center addresses property-tax appeals and restrictions on its ability to generate additional revenue. The agency rates the city A.

New Jersey is looking for underwriters to work on a school construction bond refinancing that officials anticipate bringing to market this fall.

The Internal Revenue Service is auditing the New Jersey Turnpike Authority’s $1.37 billion of Series 2009F Build America Bonds in a routine examination.

New Jersey Gov. Chris ­Christie Wednesday ended an $8.7 billion mass-transit tunnel project and rejected U.S. Secretary of Transportation Ray LaHood’s financing suggestions that would have addressed potential cost overruns on the nation’s largest public transportation project.