Pennsylvania

If Pennsylvania does nothing about its $47 million-and-rising unfunded pension liability, an Illinois-sized shadow could loom over the Keystone State.

Pennsylvania's $28.3 billion budget is headed for floor debate in the House after its appropriations committee approved it by a party-line 21-14 vote.

Pittsburgh officials want Pennsylvania to remove the "distressed" tag and are tired of waiting for the Department of Community and Economic Development to act.

A state Senate panel began a series of public hearings throughout Pennsylvania on the future of its cities, large and small.

KidsPeace Children's Hospital of Schnecksville, Pa., looking to pare bond debt from $51.3 million to $24 million, filed a voluntary Chapter 11 bankruptcy petition.

Standard & Poor's revised its outlook to positive from stable and affirmed its AA long-term rating and AA/A-1-plus rating on University of Pittsburgh debt.

Fitch Ratings downgraded Temple University Health System to the speculative grade BB-plus from the investment grade BBB-minus on Tuesday afternoon.

Bookstore owner Eric Papenfuse defeated incumbent Linda Thompson and city controller Dan Miller in the Democratic primary in distressed Harrisburg, Pa.

Harrisburg, Pa., Mayor Linda Thompson must overcome bad poll numbers in her re-election bid as the capital city's woes provide a Democratic primary backdrop.

Standard & Poor's has lowered its rating of Columbia County, Pa., by two notches to A-minus from A-plus.

While current and former SEC officials say the agency could only do so much in its securities fraud case against Harrisburg, Pa., that didn't set well with critics.

The SEC's fraudulent-disclosure charge against Harrisburg, Pa., has larger implications for secondary market disclosures, legal experts assert.

Pennsylvania lawmakers introduced bills they say would enhance state oversight of municipal financing deals and prevent another Harrisburg-type fiasco.

Ohio Auditor David Yost warned local governments to tread carefully when talking about their financial conditions, calling this week's SEC charges against Harrisburg, Pa. a "watershed moment" for local politicians.

The SEC's fraud accusations against Harrisburg, Pa., could be a deterrent, some market observers say, even if the city appeared to suffer little from the action.

Critics say the Securities and Exchange Commission should dig well beyond its cease-and-desist order in its Harrisburg, Pa., securities fraud case.

The Securities and Exchange Commission announced Monday it has charged the City of Harrisburg, Pa., with securities fraud for making misleading public statements when its financial condition was deteriorating.

Highmark Inc., which closed on a $604 million deal to take over teetering West Penn Allegheny Health System, is now under rating agency glare.

Allentown, Pa.'s 50-year, $220 million water and sewer lease deal with Lehigh Valley Authority to plug a pension gap is a credit positive, said Moody's.

Six months after announcing a proposed merger, Trinity Health and Catholic Health East said Thursday they've closed the deal, which will create the second-largest health care provider in the country.