New York

On Tuesday New York state government leaders reached an agreement to create a Financial Restructuring Board for Local Governments.

Moody's Investors Service downgraded the Schenectady City School District, N.Y.'s general obligation debt to A2 from A1 on Tuesday.

Two state lawmakers from Staten Island want the Metropolitan Transportation Authority to reconsider its decision to use 15,000 tons of steel fabricated in China for repairs to the Verrazano-Narrows Bridge.

New York Comptroller Thomas DiNapoli released a list of 24 fiscally stressed counties, cities and towns in the state Tuesday.

New York's agreement with the Seneca Nation is a credit positive for Niagara Falls, N.Y., Moody's Investors Service says.

Niagara Falls and Rochester's home county are among the 24 most fiscally distressed municipalities in New York, a report by Comptroller Thomas DiNapoli found.

Moody's Investors Service calls the expected infusion of federal funds for New York City Mayor Michael Bloomberg's $20 billion storm-resistance plan a credit positive.

Three of four New York State suburban counties of New York City have been struggling financially since the recession despite their wealthy demographics.

Suffolk County Executive Steve Bellone has written Governor Andrew Cuomo requesting the re-appointment of Mitchell Pally as the Suffolk County representative to the board of New York's MTA.

The New York City Municipal Water Finance Authority intends to sell $280 million of new money bonds and $120 million of refunding bonds next week.

Mayor Michael Bloomberg's $20 billion plan to harden New York City from future storm damage is pricey but bold, municipal market observers say.

Fitch Ratings downgraded Nassau County, New York's general obligation and county guaranteed Nassau Health Care Corporation bonds to A from A-plus on Tuesday.

A New York law gives the state's government until June 15 to consider a four-year plan that would cost at least $457 million to sustain Brooklyn hospitals.

Lack of funding for wage increases for employees working under expired union contracts could result in multi-year, multibillion-dollar gaps, New York City Comptroller John Liu told the City Council.

New York MTA's chief acknowledged that extensive work to fix two major subway tubes damaged by Hurricane Sandy would cost "hundreds of millions" of dollars.

The New York City Transitional Finance Authority intends to sell $800 million of future tax secured subordinate bonds Wednesday, June 12, after a two-day retail order period.

Moody's Investors Service downgraded Suffolk County, N.Y.'s general obligation debt to A2 from A1 and maintained a negative outlook.

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

New York's MTA will begin its $500 million sale of Series 2013C transportation revenue bonds with a retail order period Wednesday, with JPMorgan as lead manager.

New York government's settlement with the Oneida Indian Nation and the St. Regis Mohawk Tribe is a credit positive for counties and municipalities in upstate New York, Moody's Investors Service says.