Pennsylvania

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.

Struggling with $350 million of unpaid debt, Harrisburg, Pa., is selling a collection of memorabilia to raise cash.

Teetering Harrisburg, Pa., will sell artifacts in a Guernsey's-run auction that ex-Mayor Stephen Reed had bought in a failed attempt to start a Wild West museum.

Although Pennsylvania lawmakers scrambled to pass a budget on time, Gov. Tom Corbett's major initiatives – pensions, transportation and liquor – all stalled.

Pennsylvania Turnpike Commission CEO Mark Compton named three persons to a committee to review contracting practices in the aftermath of a pay-to-play scandal.

David Unkovic, the former state-appointed receiver for Harrisburg, Pa., has joined the public finance group of law firm McNees Wallace & Nurick.

Gov. Tom Corbett signed Pennsylvania's $28.4 billion budget, but liquor privatization, a transportation bill and pension overhaul remain on hold.

Pennsylvania's legislature is bracing for Saturday and Sunday sessions as a deadline to act on Gov. Tom Corbett's $28.4 billion proposed budget looms.

Pittsburgh belted an unusual triple when Standard & Poor's raised its long-term rating on the city's general obligation bonds by three notches, to A from BBB.

Standard & Poor's downgraded Temple University Health System's debt to the speculative grade BB-plus from the investment grade BBB-minus on Thursday.

Philadelphia passed a 5% larger budget for fiscal 2014 than its fiscal 2013 budget.