Pennsylvania

The rating agency does not expect the NCAA's $60 million fine to immediately affect the long-term ratings on various revenue bonds issued by and for the school.

The City Council has introduced tentative agreements with the police and fire unions that reflect the state Supreme Court ruling last fall.

A new Pennsylvania law will consolidate the functions of the Securities Commission into the Department of Banking to form a new Department of Banking and Securities.

Mark Schwartz, who has represented the Harrisburg City Council since October and filed a Chapter 9 petition on its behalf, withdrew from its most recent filing from the Commonwealth Court, saying he has not been paid.

A local private-sector consultant, invoking the 1975 New York City crisis, says M&T should tell the Pennsylvania city to drop dead.

But employees, who have gotten the federal minimum since July 6, will not get back pay yet as the city lacks the funds.

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.