New Jersey

Many observers doubt whether New Jersey will have a financially sustainable solution to its pension funding problem any time soon.

New Jersey Gov. Chris Christie's reauthorization of a 2% cap on police and firefighter salaries is positive for the state's local governments, Moody's said.

The New Jersey Education Association will sue New Jersey Gov. Chris Christie on his underfunding of the pension system in the fiscal year 2015 budget, a NJEA spokesman said Tuesday.

New Jersey Gov. Chris Christie may have won a battle and lost the war this week, when his plan to withhold $884 million in pension payments in order to balance the budget survived a court challenge by the state's unions.

New Jersey's government appears to be near approving an annual debt analysis.

The board of New Jersey's biggest pension fund voted Wednesday to sue New Jersey Gov. Chris Christie over reduced contributions to the state's pensions.

The Securities and Exchange Commission's investigation of the Port Authority of New York and New Jersey must determine if investors needed to know about $1.8 billion of controversial spending, securities law experts said. Others said any SEC enforcement action would not be a fix for the authority's problems.

As state and local governments make efforts to prepare for climate change, credit analysts are watching closely to see how impacts from weather-related events might affect credit quality.

New Jersey state government's growing fiscal problems may hit the state's localities, public school districts, public universities, and nonprofit hospitals.

New Jersey police unions have sued state government to force it to make planned payments to the pension systems.

Moody's Investor's Service downgraded $282 million of Atlantic City, N.J.-related bonds to near junk grades citing declining revenue in the gambling destination.

The Federal Transit Administration awarded about $167 million to the Port Authority of New York and New Jersey and $67 million to New Jersey Transit to help both agencies continue rebuilding and replacing after Hurricane Sandy.

Observers of New Jersey's fiscal situation agree that the state's situation is tough and will get tougher in the face of pension underfunding and a budget deficit.

The Port Authority of New York and New Jersey is negotiating a deal with developer Larry Silverstein to cut the transportation infrastructure operator's risk and increase its potential gain from the construction of Three World Trade Center.

Jersey City sued the Port Authority of New York and New Jersey for $400 million, saying the payments the city receives in lieu of property taxes from the regional transportation infrastructure overseer are grossly inadequate.

New Jersey Gov. Chris Christie's plan to cut the state's contribution to its pension system to make up for lower-than-anticipated revenue is a credit negative, according to Fitch Ratings.

How utilities pay for damage related to Hurricane Sandy affects credit quality, Standard & Poor's said in a report.

Moody's Investors Service downgraded the enhanced ratings of 15 major New Jersey municipalities participating in a New Jersey-supported bond program, citing its downgrade of New Jersey.

Municipal market analysts are pessimistic about New Jersey and Moody's Investors Service downgrade of New Jersey on Wednesday underscored their opinions.

Fitch Ratings downgraded New Jersey's general obligation rating to A-plus from AA-minus on Thursday.