New York

Standard & Poor's has lowered the long-term general obligation debt of Amityville to A-minus from A, with a negative outlook.

The New York City Transitional Finance Authority sold $900 million of future tax-secured, fixed-rate new money subordinate bonds on Wednesday. They consisted of $600 million of tax-exempt bonds, $200 million of taxable bonds, and $100 million of taxable qualified school construction bonds.

Mike Spano will become the next mayor of Yonkers, N.Y., which saw a two-notch downgrade to its bond rating last month.

Supervisors and workers in a signal construction unit at the Metropolitan Transportation Authority's Metro-North Hudson and Harlem commuter train lines have manipulated the payroll system by abusing overtime rules that inflate their salaries and pensions, New York State Comptroller Thomas DiNapoli said in a forensic audit of overtime practices released Wednesday.

New York City reported a $5 million surplus in its general fund for the 31st straight year, but warning signs hover, Comptroller John Liu said in his annual analysis of the city's finances.

New York Gov. Andrew Cuomo on Monday announced his appointment of Leecia Eve to deputy secretary for economic development and his recommendation of Gil Quiniones to be president and chief executive of the New York Power Authority, pending legislative approval. Quiniones is currently acting president.

With the appointments two weeks ago of Joseph Lhota and Patrick Foye as heads of the Metropolitan Transportation Authority and the Port Authority of New York and New Jersey, respectively, New York Gov. Andrew Cuomo has his own people in charge of the two major agencies.

Hispanics are among the most potent market forces in the American economy, yet inadequate access to capital constrains them, New York City Comptroller John Liu said at a banking conference last week.

Time is running short for Nassau County officials to have a new arena in place for the New York Islanders, National Hockey League commissioner Gary Bettman implored last week.

New York’s Metropolitan Transportation Authority’s $30.1 billion of outstanding debt contains about $5.2 billion of variable-rate debt, of which $3 billion is in synthetic fixed-rate mode achieved through interest-rate swaps, according to a derivatives portfolio report.

New York City Mayor Michael Bloomberg and Comptroller John Liu on Thursday announced an agreement in principle to overhaul the management of the city's five pension funds totaling $120 billion and place a chief investment officer and a singular pension board in charge.

New York City Mayor Michael Bloomberg is said to be chugging ahead with an outside-the-box - and outside-the-state - proposal to further extend the No. 7 subway line to New Jersey, according to a New York Post report that said he will spend the next few months planning for it.

The Port Authority of New York and New Jersey plans a $400 million sale of new money and refunding bonds by competitive bid on Wednesday.

New York City's defined-benefit pension plans can deliver the same retirement income at a nearly 40% lower cost than a 401(k)-type individual account, according to a report.

All governmental funds tax collections for the first half of New York State’s 2011-12 fiscal year rose 12.6% from the same period last year, but were $391.9 million less than updated financial plan projections, according to the September 2011 cash report released by Comptroller Thomas DiNapoli.

The New York City Mayor’s Office of Management and Budget, the Comptroller’s Office, and three of the city’s financing entities have announced the selection of financial, pricing, investment and swap advisors.

New York Gov. Andrew Cuomo on Thursday named Madison Square Garden executive and former New York City deputy mayor Joseph Lhota to succeed Jay Walder as the chairman and chief executive of the Metropolitan Transportation Authority.

The Hudson Yards Infrastructure Corp. plans a $1 billion sale of senior revenue bonds through negotiated bid Wednesday after a one-day retail period, primarily to fund the extension of New York City's No. 7 subway line.

President Obama approved New York State’s request to expedite the review and approval process to allow work to begin on the replacement of the Tappan Zee Bridge between Westchester and Rockland counties.

The New York City Transitional Finance Authority sold $758 million of future tax-secured, fixed-rate subordinate bonds last week by negotiated sale.