Pennsylvania

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.

The Scranton, Pa., City Council agreed to reconsider covering a $1 million debt payment to the Scranton Parking Authority, which is now in default.

Pennsylvania's House of Representatives on Wednesday passed a bill allowing the state to borrow up to $4.5 billion in a bond issue to pay off lingering unemployment compensation debt.

Pennsylvania's Department of Community and Economic Development on Monday named law firm Stevens & Lee the recovery plan coordinator for Altoona.

Moody’s Investors Service upgraded the Pittsburgh and Allegheny County Sports and Exhibition Authority’s $138.8 million of 2010 hotel-room excise tax revenue bonds to A2 from Baa1.

While still opposing any bankruptcy filing by her own city, Harrisburg Mayor Linda Thompson said she would object to any extension of the Pennsylvania law that limits cities of Harrisburg’s size from a Chapter 9 filing.

The Scranton, Pa., Parking Authority went officially into default on Friday after the City Council Thursday turned down a request to pay $940,000 from a contingency account for a loan payment.

Scranton, Pa.'s City Council is willing to allocate $940,000 from a contingency fund to the Scranton Parking Authority to avoid the agency’s default, but wants its officials to answer questions at a public caucus Thursday night.

The Commonwealth Court of Pennsylvania on Thursday approved Gov. Tom Corbett’s nomination of retired Major General William Lynch as receiver for distressed capital Harrisburg.

The Commonwealth Court of Pennsylvania will hold a confirmation hearing Thursday morning on Gov. Tom Corbett's nominee for Harrisburg receiver, retired Air Force Major Gen. William Lynch.

As Scranton, Pa.'s City Council and Parking Authority squabble over a $1.4 million allocation the agency says it needs to avoid default, one accountant in the city says Scranton itself should seek bankruptcy protection.