Pennsylvania

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.

Moody's Investors Service assigned a negative outlook to the Altoona, Pa., Water Authority's $36.4 million of Series 2007 water revenue refunding bonds while affirming the authority's A1 rating.

Scranton Mayor Chris Doherty sued the city council, urging a Lackawanna County, Pa., court to force a recovery plan to keep his city from going broke.

Pennsylvania lawmakers pass a bill to help distressed cities deal with arbitration awards.

Despite a downgrade to Ba1 by Moody’s Investors Service, the Temple University Health System saw strong demand for $311 million of revenue and refunding bonds issued through the Philadelphia Hospitals and Higher Education Facilities Authority.

Scranton styles itself as "The Electric City," but ongoing financial problems, combined with the discord on display at a City Council meeting last week, raise questions about its ability to keep the lights on at its 19th-century Gothic Revival City Hall.

Harrisburg's new state-appointed receiver wants the City Council to approve two hires and a tax increase under the proposed financial recovery plan for Pennsylvania's capital by Monday, or he might ask the Commonwealth Court to force the city to implement them.

Moody’s Investors Service revised the outlook to negative from stable on the Philadelphia School District’s general obligation bonds, and affirmed its underlying Ba1 rating.

Moody’s Investors Service affirmed its Aa1/VMIG 1 letter-of-credit-backed rating of the Philadelphia Gas Works revenue refunding bonds, fifth series A-2. Around $30 million of debt is affected.

Pennsylvania Senate Democrats have introduced a $2.8 billion plan they say would upgrade the commonwealth’s infrastructure.

A Dauphin County judge sided with the Harrisburg, Pa., controller and treasurer in a dispute with Mayor Linda Thompson over the right to authorize electronic payroll.