Pennsylvania

Philadelphia will borrow $50 million on behalf of its teetering school district to ensure that chools will open on time, Mayor Michael Nutter said Thursday.

Standard & Poor's lowered the Pennsylvania Housing Finance Agency to AA-minus, citing more delinquencies, declining profitability and a weakened economic base.

Pennsylvania Gov. Tom Corbett, in his latest staff reshuffling, named former lawmaker Katie True of Lancaster County as secretary of legislative affairs.

The Municipal Securities Rulemaking Board is close to releasing a notice aimed at helping issuers avoid a "disclosure vacuum" similar to the one that brought federal enforcement actions down on Harrisburg, Pa. earlier this year.

Allentown, Pa., on Thursday closed its $211 million deal to lease its water and sewer system to the Lehigh County Authority and cover its unfunded pension liability.

The Pennsylvania Liquor Control Board, in a crossfire amid Gov. Tom Corbett's efforts to privatize the system, announced record revenue and net income for fiscal 2013.

Harrisburg, Pa., controller Dan Miller, who lost in the Democratic mayoral primary, will not run as a Republican for that office.

Harrisburg, Pa., receiver William Lynch denies that Detroit's bankruptcy filing had anything to do with creditors in Pennsylvania's capital moving toward a consensus.

Temple University is defending itself after Moody's Investors Service put its Aa3 rating on review for a downgrade last week.

Former Pennsylvania governor and 1964 Republican presidential candidate William Scranton died Sunday in Santa Barbara, Calif. He was 96.

Moody's Investors Service dropped Philadelphia School District's underlying rating to Ba2 from Ba1 but kept its enhanced rating at Aa3 Thursday night.

A deal to sell the Harrisburg incinerator, the focal point of the debt crisis in Pennsylvania's capital, is imminent, the city's state-appointed receiver said.

The Allegheny County, Pa., Sanitary Authority has agreed to pay $70,000 to settle Internal Revenue Service charges that it violated yield restriction requirements on an advance refunding escrow for $260.3 million of bonds issued in 2005.

Standard & Poor's on Monday assigned an A rating and stable outlook to the Lehigh County Authority's $291.5 million bond issue to fund its Allentown water lease deal.

Leslie Gromis Baker will succeed Stephen Aichele as Tom Corbett's chief of staff, the Pennsylvania governor announced.

Fitch's downgrade of Pennsylvania GO bonds was hardly news to state budget officials who warned of such action if pension overhaul remained in gridlock.

Pennsylvania may provide only minimal additional aid for the Philadelphia School District this fiscal year, which has sent off layoff notices to 20% of its staff due to its financial problems.

Pennsylvania's struggling capital, Harrisburg, has received state funding toward two local infrastructure projects, state Sen. Rob Teplitz announced.

Moody's Investors Service downgraded Temple University Health Systems to Ba2 from Ba1 Tuesday.

Two bills intended to improve oversight of municipal bond financing and prevent another Harrisburg-type fiasco will go to the Pennsylvania Senate this fall.