Pennsylvania

"We were pleased to achieve such strong results, especially in light of the recent volatile market conditions," said Philadelphia Treasurer Jacqueline Dunn.

The downgrade reflects the school district's weakened financial position, Moody's Investors Service said, adding that while the district's operating deficits have moderated significantly, they will persist over the next fiscal year.

S&P said the outlook revision reflects "our view that Pennsylvania has continued to make progress toward structural budgetary balance." Earlier this month, Moody's revised its outlook on the state to positive.

The nonprofit regional healthcare system reported six straight years of operational losses in its most recent financial report.

"Pennsylvania's positive outlook is based on the significant increase in budget reserves over the past three fiscal years to levels consistent with higher-rated peers," Moody's said.

Pittsburgh's long-running shift from the industrial Steel City to a technology hub is heading in a new direction — toward outer space and the moon.

The three-day National Association of Securities Professionals event featured industry experts and focused on accelerating inclusive development.

Proponents say it's the right time after states reaped the revenue rewards of a strong post-COVID economic rebound. Opponents, however, point to the gloomy market predicted to be ahead.

David Fields, Rob Whitlock and Naomi O'Dell have been hired from RBC Capital Markets and will work out of the firm's Philadelphia and Chicago offices.

The section of I-95 that collapsed was part of a recent $212 million reconstruction.

High inflation and high costs for construction and borrowing add to a strained labor market complicating some planned municipal issuances.

"Our ratings reflect the progress the city has made over time on important issues like rebuilding reserves and improving the health of our pension fund," said Philadelphia Treasurer Jackie Dunn.

Outflows continued with the Investment Company Institute reporting investors pulled $128 million from mutual funds in the week ending March 29, after $693 million of outflows the previous week.

Maurice "Mossie" Murphy Jr. died after a three-year battle with cancer.

Moody's downgraded $651 million of Main Line Health Services revenue bond debt to A1 from Aa3.

The city has estimated liabilities of between $100 million and $500 million and assets of only between $10 million and $50 million, according to the filing.

The $200 million bond deal prices next week. The Jesuit school absorbed the nearby University of the Sciences earlier this year.

Triple-A curves were a touch firmer in spots as secondary trading took a backseat to the larger primary activity with Connecticut and Massachusetts pricing general obligation bonds, a large CommonSpirit healthcare and several competitive issues led by Rhode Island GOs.

The Investment Company Institute reported $2.527 billion of outflows from muni bond mutual funds in the week ending Aug. 31 compared to $765 million of outflows the previous week.

The Northeast's issuers sold $49.69 billion of municipal bonds in the first half of 2022, down more than 18% year-over-year.