Pennsylvania

Mayor Linda Thompson implored Harrisburg City Council members to approve her financial recovery plan, which will go before the council for a final vote at a special legislative session next Wednesday.

Moody’s Investors Service has placed the Baa1 rating on Lackawanna County’s $232 million of outstanding general obligation bonds under review for possible downgrade.

The Allegheny County Sanitary Authority sold $92.2 million of tax-exempt refunding Series 2001 sewer revenue bonds on Wednesday.

Harrisburg’s City Council will vote on its latest financial receiver proposal at an Aug. 31 special legislative session.

The Southeastern Pennsylvania Transportation Authority sold $201.6 million of tax-exempt capital grant receipts bonds, Series 2011.

The Internal Revenue Service has opened an audit of $31 million of health center revenue bonds issued in 2005 by the Lebanon County, Pa., Health Facilities Authority to refund bonds previously sold in 1999 for a retirement facility.

Harrisburg Mayor Linda Thompson warned that without a fiscal recovery plan in place, Pennsylvania's capital city would be unable to pay its nearly 500 workers in mid-September.

For the second time in two months, the Internal Revenue Service has disclosed it is broadening an audit of student loan securities, focusing on the position that student loans should not be reallocated to different bond issues.

Moody’s Investors Service confirmed the Aa1 long-term letter-of-credit-backed rating of Philadelphia’s Series 2009B general obligation multi-modal refunding bonds, affecting $100 million of debt.

Pittsburgh’s City Council has tabled a $91.7 million bond proposal aimed at saving about $3.6 million.

How to shape the development of natural gas extraction in Pennsylvania is now up to Gov. Tom Corbett, regulatory agencies and lawmakers, following the release of the full report of the governor’s Marcellus Shale Advisory Commission.

One city is a capital in a large state often considered a battleground in presidential elections. The other occupies a blighted square mile in the nation's smallest state.

The Philadelphia Housing Authority has selected a former Pennsylvania general counsel and former bond lawyer to lead the rebuilding of its general counsel office.

HARRISBURG, Pa. - The rejection by Harrisburg’s City Council of a financial recovery plan by a state-sponsored panel has Pennsylvania's capital city scrambling.

As discussion intensifies about drilling for natural gas in the Marcellus Shale region spanning four eastern states, a major talking point is suitable compensation for the counties and municipalities where drilling takes place.

Harrisburg's City Council will hold a special legislative session at 6 p.m. Tuesday to accept or reject a proposed financial recovery plan for Pennsylvania's capital city, which is saddled with $220 million of bonds outstanding on its incinerator.

While the final version of Harrisburg's financial recovery plan, released Friday, made no changes that addresses the incinerator-related debt that triggered its financial crisis, it made several adjustments regarding the structural deficit of Pennsylvania's capital city.

Fitch Ratings has placed on watch the BB-minus rating on $747.7 million of Series 2007A revenue bonds issued by the Allegheny County Hospital Development Authority on behalf of the West Penn Allegheny Health System of Pittsburgh.

Novak Consulting Group will release its finalized financial recovery plan for Harrisburg at 10 a.m. Friday. It will post the plan, with adjusted recommendations for Pennsylvania's troubled capital city, at that time on the websites of Cincinnati-based Novak Consulting and the state Department of Community and Economic Development.

Gov. Tom Corbett late Thursday night signed a bill to prevent Harrisburg and other distressed small-to-medium-sized cities in Pennsylvania from filing for bankruptcy protection - at least for the next year - under the threat of losing all state aid.