Pennsylvania

The rating agency, one day after lowering the state's GO bond rating to Aa2 from Aa1, took further action affecting the Keystone State.

After a long, bumpy road, Gov. Tom Corbett signs a bill that establishes a framework for infrastructure public-private partnerships.

But the teetering city, frozen out of the capital markets and under national glare for paying employees the minimum wage in defiance of a court order, must agree to a revised recovery plan.

The broke city has yet another problem. It can't sell its sewer conveyance system to a local authority, as projected, because the authority has owned it since 1968.

In the aftermath of financial guarantees by Scranton, Penn. and Stockton, Calif. recently contributing to the cities' defaults, the Government Accounting Standards Board is seeking to improve the visibility of these guarantees.

William Lynch wants a state court to force the City Council to raise the earned-income levy to 1.5% from 0.5%.

Linda Thompson proposes ending a five-year old incinerator fee agreement with the Harrisburg Authority public works agency that she said would redirect $275,000 per year to Pennsylvania's distressed capital city.

The joint venture between The Carlyle Group and Sunoco, Inc. that will save a Philadelphia refinery from closing its doors is a credit positive for the city, Moody's Investors Service said.

A Lackawanna County, Pa., judge late Friday enjoined Scranton from paying its employees only the federal minimum wage, but the mayor of the cash-strapped city said there's no money left with which to comply.

Penn State University will endure the "trauma and potential credit stress" from the child sex-abuse conviction of former assistant football coach Jerry Sandusky and expected claims, Janney Capital Markets said.

A law calling for more state oversight of financially distressed Pennsylvania school districts is a credit positive, according to Moody's Investors Service.

Lawmakers push the moratorium to Nov. 30 over the objections of critics who say it robs the capital city's receiver of a bargaining chip with major creditors.

Delaware, Illinois, Massachusetts, New Jersey, North Carolina, Pennsylvania and South Carolina are about close to blowing a deadline for adopting a fiscal 2013 budget.

With the end of the fiscal year looming, the Pennsylvania Senate on Friday afternoon passed a $27.7 billion budget by a 32-to-17 vote.

While particulars vary, distressed Pennsylvania communities Harrisburg, Scranton and Altoona struggle for solutions amid common concerns of state indifference - and in some cases hindrance - rising pension obligations and potentially crippling arbitration awards.

Abington Health and Holy Redeemer Health System have announced their intent to merge into a new regional Pennsylvania health system.

Seven States are two and a half day away from blowing a Saturday deadline for adopting a fiscal year 2013 budget.

Harrisburg, Pa., receiver William Lynch chose the Lancaster County Solid Waste Management Authority to enter into exclusive negotiations to purchase the incinerator that has become the face of the city's debt crisis.

The Harrisburg, Pa., City Council has launched another legal attempt to fight receivership in Pennsylvania's distressed capital city.

Moody's Investors Service has downgraded to A2 from A1 the outstanding general obligation debt of the Ticonderoga Central School District in northeast New York, and assigned a negative outlook.