Pennsylvania

Philadelphia International Airport plans a $5.2 billion expansion project that would include about $4.2 billion of borrowing to help finance an increase in capacity. Officials also would like to improve the facility’s on-time record, especially during bad weather.

Former Pennsylvania Gov. Edward Rendell this week returned to Ballard Spahr LLP, where he will work on public-private partnership infrastructure developments, and energy and environmental issues.

A judge last week delayed to March 15 a hearing regarding a suit that could force Harrisburg to repay debt-service costs on $282 million of outstanding incinerator debt before meeting other expenses.

Moody’s Investors Service Tuesday downgraded $69.4 million of Harrisburg Authority water bonds to Ba1 from A1. The outlook is negative.

Pennsylvania Gov. Tom Corbett took office Tuesday, pledging to reduce the size of government and implement fiscal restraint.

Harrisburg’s $56 million 2011 budget remained uncertain Friday afternoon as Mayor Linda Thompson continued to review the spending plan.

Harrisburg could receive a financial recovery plan by ­­mid-May as Pennsylvania ­Wednesday announced that Novak Consulting Group will head a team of advisers to work with city ­officials on a fiscal strategy.

Nancy Winkler, a long-time adviser at Public Financial Management Inc., will leave the private sector to become Philadelphia’s treasurer on Jan. 31.

Robust December collections boosted Pennsylvania’s tax receipts to $191.2 million above budgeted estimates for the first half of fiscal 2011.

Pittsburgh's City Council late last week was expected to override a veto by Mayor Luke Ravenstahl of a bill that would raise fees on city-owned parking garages to fund pension costs.

Harrisburg might receive legal help from Pennsylvania as the capital city fights off a lawsuit that could force it to raise revenue to repay $282 million of outstanding incinerator debt.

Pennsylvania Wednesday announced that its cash-strapped capital city, Harrisburg, will be placed in its program for financially distressed municipalities. The city as a result will work with an outside financial adviser to craft a fiscal recovery plan.

With an eye on its credit ratings, the Delaware River Port Authority chose to keep in place a $1 toll hike Wednesday that was set to begin July 1 after weeks of debate on whether to delay the increase to 2012.

Pennsylvania on Wednesday will take bids on $650 million of general obligation debt, including $466 million of taxable Build America bonds.

Harrisburg Mayor Linda Thompson Wednesday proposed selling land underneath three parking garages to the Harrisburg Parking Authority to help fill a $4.3 million gap-error in her fiscal 2011 budget proposal.

Municipal enterprise projects that are struggling to meet operating and debt-service costs could be a default risk as cash-strapped states and cities become less likely to offer such entities direct aid, according to Moody's Investors Service.

Pennsylvania Treasurer Robert McCord Wednesday sent a letter to governor-elect Tom Corbett asking for his input on a stalled $1 billion new-money debt issuance that includes Build America Bonds.

Financial analysts Wednesday warned the Delaware River Port Authority that delaying a planned July 1 toll increase could result in rating downgrades of the bi-state agency, which could then prompt a payment of about $220 million on two of the agency’s swaps.

Moody’s Investors Service Tuesday revised Pittsburgh’s outlook to negative from stable as Pennsylvania’s second-largest city may face large pension contribution increases if its retirement fund falls under state oversight.

The Pennsylvania Higher Education Assistance Agency disclosed Friday that it is complying with an additional information request from the Internal Revenue Service as part of the IRS’ ongoing review of the agency’s student-loan bonds.