New York

Standard & Poor’s raised its rating on Cortland, N.Y.’s general obligation debt to BBB-plus from BBB, based on its assessment of the city’s estimated performance for fiscal 2010, coupled with structural changes.

The Port Authority of New York and New Jersey Board of Commissioners advanced a capacity planning study that will deal with the five airports under its jurisdiction.

New York City sold $739 million of taxable and tax-exempt new money and reoffered general obligation bonds last week.

The capital program is the "front and center challenge" for New York's Metropolitan Transportation Authority, outgoing chairman Jay Walder said Wednesday.

The Port Authority of New York and New Jersey has some tailwinds at its back Tuesday when it sells a record $1 billion of taxable 40-year bonds to finance World Trade Center reconstruction.

An ambitious proposal for a hotel and conference center adjacent to the new Yankee Stadium would require demolition of an underused parking garage that helps back a troubled parking revenue bond deal.

The Dormitory Authority of the State of New York has approved $1.5 billion in financing for education and health care.

The Hudson Yards Infrastructure Corp. expects to price $1 billion of new- money bonds the week of Oct. 17 to benefit the extension of the No. 7 subway line in New York City’s transit system from its current terminus on Eighth Avenue to the Hudson Yards redevelopment area.

Revenues for the first five months of fiscal 2011-12 are $3.3 billion higher than last year, but remain $75.5 million below projections for an updated financial plan that’s operating on a “razor-thin margin,” according to New York Comptroller Tom DiNapoli’s cash report for August.

New York City plans to issue $650 million of new-money general obligation bonds next week, followed by additional transactions in October to restructure its variable-rate portfolio.

The New York City Municipal Water Finance Authority sold $451 million of second-resolution, fixed-rate tax-exempt bonds in its first-ever competitive sale.

Raudline Etienne resigned as chief investment officer of the New York State Common Retirement Fund, a position she has held since March 2008.

Nassau County Executive Edward Mangano has submitted a $2.6 billion budget for fiscal 2012 while a New York State-appointed oversight board continues to cast a watchful shadow.

Nassau County Executive Edward Mangano late Wednesday submitted a $2.6 billion budget for 2012 that eliminates a $310 million deficit and lays off more than 1,000 workers.

The New York State Dormitory Authority plans to sell $491 million of Series 2011A revenue bonds for the North Shore-Long Island Jewish Obligated Group through negotiated bid on Thursday, following a one-day retail order period.

The New York City Municipal Water Finance Authority has scheduled for Tuesday a competitive issuance of $458 million of new-money and refunding bonds.

The New York City Transitional Finance Authority has issued $2.027 billion of 9/11 recovery bonds since the terrorist attacks, according to city Comptroller John Liu’s Office of Fiscal and Budget Studies.

The New York State Thruway Authority and the State of New York Mortgage Agency are scheduled to hold bond sales on Thursday totaling $500 million, with each following a Wednesday retail order period.

The New York Local Government Assistance Corp. has postponed its sale of $191.2 million of Series 2011A fixed-rate subordinate-lien refunding bonds to Wednesday from Tuesday, citing disruptions from Hurricane Irene.

Fitch Ratings has placed two sets of BB-plus rated bonds issued by the New York City Industrial Development Agency on behalf of Staten Island University Hospital on positive rating watch.