Pennsylvania

Debt gone wild at the teetering Penn Hills, Pa., School District has raised the specter of criminal probes after a scathing report by Pennsylvania's state auditor.

Mandated cost increased and an inability to raise revenue are hampering the Philadelphia School District with persistent budget deficits, according to a new audit from Pennsylvania Auditor General Eugene DePasquale.

As Pennsylvania lawmakers debate Gov. Tom Wolf's proposed $32 billion fiscal 2017 spending plan, many municipal analysts view the state's prospects in a negative light.

Standard & Poor's has discontinued its underlying rating for credit enhancement programs on rated Pennsylvania school districts.

Moody's Investors Service affirmed Pennsylvania's Aa3 general obligation rating Monday and kept the commonwealth's outlook at negative following its passage of a 2016 budget nine months into the fiscal year.

The Philadelphia Area Municipal Analyst Society will explore how the city’s academic medical centers can adapt to stay ahead of a rapidly evolving healthcare environment at the organization’s meeting next week.

Rebranding and internal improvements paid off for Capital Region Water – the former Harrisburg Authority – which landed its first investment-grade rating since 2011.

As the battlefield shifts to its 2017 budget from its 2016 budget, Pennsylvania’s sharp political divide has had heavy ramifications in the capital markets.

Scranton, Pa.’s pending $195 million wastewater sale could help end its long stay in a state oversight program for distressed cities, Mayor Bill Courtright said.

The Southeastern Pennsylvania Transportation Authority has proposed a $1.4 billion 2017 fiscal budget that spares riders a fare hike.

Pennsylvania finally has a state budget but remains vulnerable to more rating downgrades, said a Philadelphia-based municipal strategist.

Pennsylvania Gov. Tom Wolf said he would allow the nine-months-late fiscal 2016 budget to become law without his signature.

The University of Pennsylvania received a one-notch bond rating upgrade from Moody’s Investors Service, to Aa1 from Aa2.

Scranton, Pa., may finance its $31.5 million back-pay settlement with police and fire unions with a refunding of some of its $50 million stranded parking authority debt, officials said.

Gov. Tom Wolf and the Pennsylvania legislature are still at odds over a tardy $30 billion fiscal 2016 budget, even after lawmakers sent him another version.

So-called headline and political risk, notably in Pennsylvania, could further complicate an already difficult muni landscape, according to PNC Capital Markets.

A settlement over back pay for the city’s police and fire unions is a major step to financial recovery in Scranton, Pa., says Mayor Bill Courtright.

Pennsylvania’s budget impasse may force the Red Lion Area School District into bankruptcy, its superintendent said.

The ambitions of the $4.1 billion budget Philadelphia’s Mayor Jim Kenney outlined Thursday hinge largely on new borrowing and a proposed soda tax.

Pennsylvania slipped closer to a rating downgrade Thursday when Standard & Poor’s placed its AA-minus general obligation rating on credit watch with negative implications.