New York

Rockland County, facing a possible $40 million budget gap, saw its rating drop to BBB-minus by Standard & Poor's after it failed to get approval to issue deficit-reduction bonds.

The New York State Thruway Authority's $1.1 billion sale of general revenue bonds met high demand last week, despite being placed on negative outlook by credit rating agencies.

The Port Authority of New York and New Jersey has selected four firms to provide underwriting services for the World Trade Center redevelopment.

The high amount of approved budgets among New York school districts is a credit positive for the sector, said Moody's Investors Service in a recent report.

The $68.5 billion spending plan calls for no tax increases, but skeptics say it relies too much on stop-gap measures.

Edward Moran says such a move by investors could help keep the struggling company behind the Yankee Stadium garage project out of bankruptcy.

On the eve of a refunding for the same amount and with former Gov. David Paterson on board, the agency signs off on spending for capital projects

In its largest deal since 2008, the Long Island Power Authority will sell $500 million of revenue bonds on Wednesday to fund capital expenditures and to refund outstanding debt.

New York's legislature adjourned Thursday without approving deficit reduction bonds issuances for Long Beach and Rockland County, which Moody's Investors Service calls a credit negative.

The New York City Municipal Water Finance Authority sold $662 million of second-resolution, fixed-rate, tax-exempt new-money and refunding bonds in a sale that was upsized from an initial $450 million.

The New York City Regional Economic Development Council is seeking proposals for projects it could recommend as priorities for the second round of New York Gov. Andrew Cuomo's regional council initiative.

The New York State Environmental Facilities Corp. will sell $312 million of refunding bonds for the New York City Municipal Water Finance Authority this week for an estimated $46 million in savings.

The DASNY board approved $1.1 billion in financings for higher education and health care institutions at its board meeting on Wednesday, including a $600 million bond sale for New York school districts.

The U.S. Department of Transportation has released $10 million under its TIGER grant program to modernize the infrastructure and warehouse facilities at the Hunts Point Terminal Market in New York City’s Bronx borough.

The Triborough Bridge and Tunnel Authority is scheduled to sell $195.6 million of general revenue variable-rate refunding bonds on Thursday by competitive bid.

Moody's Investors Service said Rockland County management has taken a proactive approach to closing its budget gap and took its Baa3 rating off review for further downgrade.

Lacking a financial plan for the $5 billion Tappan Zee Bridge replacement, the New York State Thruway Authority received negative ratings outlooks.

The New York City Housing Development Corp. has scheduled a $312 million sale of multifamily housing revenue bonds through negotiation Thursday, after a one-day retail period.

New York City Mayor Michael Bloomberg’s announcement of a long-sought $3 billion development project to convert the Willets Point, Queens, junkyard area adjacent to the Mets’ Citi Field baseball park into a five-million square foot retail and entertainment district has triggered reactions that range from positive to skeptical.

PNC Capital Markets LLC has hired Rob Dailey to lead its public finance banking business.