Pennsylvania

Moody's downgrade of Pennsylvania could precede more bond rating action against Pennsylvania as unfunded pension liability hovers over the commonwealth.

A water-rate increase much lower than what it sought is a credit negative for Bethlehem, Pa., said Moody's.

Gov. Tom Corbett's line-item veto of Pennsylvania's $29.1 billion budget jeopardizes the Harrisburg recovery plan, said state Sen. Rob Teplitz.

Gov. Tom Corbett deleted $72.5 million from lawmakers’ spending plan in a line-item veto while signing Pennsylvania's $29.1 billion budget and repeating his call for pension overhaul.

Lead Harrisburg plan attorney Mark Kaufman and his firm, McKenna Long & Aldridge, received an award for its financial restructuring of Pennsylvania's capital.

Gov. Tom Corbett said he would decide after holiday whether to sign a $29.1 billion Pennsylvania budget that does nothing about unfunded pension liability.

Pennsylvania lawmakers remained stalled over pension overhaul, for which Gov. Tom Corbett is pushing for passage.

Pennsylvania’s Senate on Monday afternoon was scheduled to resume debate over the House-approved $29.1 billion budget bill, amid a call for pension change by Gov. Tom Corbett.

Senate wrangling is next after Pennsylvania's House passed a $29.1 billion budget for fiscal 2015.

Pennsylvania's proposed $29.1 billion budget is headed to the House floor after its appropriations committee approved it.

The Philadelphia School District is hoping Pennsylvania will provide aid, as both the district and the state enter the final days of budget preparation.

The Securities and Exchange Commission has charged a Philadelphia-area private equity firm with violating pay-to-play rules by receiving advisory fees from the city and state pension funds following campaign contributions an associate made to state and local officials. It is the first case brought by the SEC under its pay-to-play rules for investment advisers.

S&P revised the outlook on its AA and AA/A-1-plus ratings on Delaware County Authority college revenue bonds, issued for Haverford College, to negative.

Philadelphia School District's Ba2 rating was placed on review for a downgrade by Moody's Investors Service, which cited a delay in approving the budget.

Adrian King Jr. will resign as Pennsylvania's first deputy attorney general and rejoin law firm Ballard Spahr as partner on June 16.

The inexorable drive to further underfund Pennsylvania's state-wide pension systems remains alive and well, under the guise of "pension reform."

Gov. Tom Corbett's hybrid proposal to overhaul Pennsylvania's public employee pension system could pass despite a blitz from both the left and the right, said one Keystone State actuary.

A real estate revenue drop and lowered pension assumptions have triggered a budget deficit in Pittsburgh, said the city's financial recovery consultants.

Pittsburgh, through consultants Public Financial Management and Eckert Seamans Cherin & Mellott, has filed an update to its financial recovery plan under Pennsylvania's Act 47 workout program for distressed communities.

Businessman Tom Wolf won the Democratic primary for Pennsylvania governor and will challenge incumbent Republican Tom Corbett in the general election.