New Jersey

Issuers sold nearly $60 billion of debt as states, cities and agencies adjusted to the COVID-19 environment and other variables.

The reserve was used to make a $9.3 million Aug. 2 payment on about $290 million of debt. About $9.3 million is left in the fund, enough for the Feb. 1 payment.

Better funding levels prompted S&P Global Ratings to revise the outlook on the state's BBB-plus GO bond rating to positive from stable.

The New Jersey Educational Facilities Authority and the Ivy League university named Ramirez Asset Management, in their first collaboration with an MWBE firm.

A brightening revenue and liquidity picture and improved fiscal governance and management were cited as Moody's assigned a positive outlook.

Ridership displacement, remote work and online shopping amplify pre-pandemic challenges such as large capital plans.

A $3.7 billion transfer from the general fund would cover $2.5 billion for retiring and defeasing state debt, and $1.2 billion to backstop capital construction projects.

The U.S. Department of Transportation secretary and elected leaders from New York and New Jersey pitched the $11.6 billion project, citing economic and safety concerns.

The agreement over middle-class tax relief could set the stage for passage of the fiscal 2022 budget.

The businessman and former Assembly member looks to prevent the first re-election of a Democratic governor in more than 40 years.