Rhode Island

State lawmakers are in extra innings over a Pawtucket baseball stadium bond package as the team threatens a move.

The state Supreme Court's reaffirmation of a 2015 pension overhaul settlement is credit positive for Rhode Island, according to Moody's.

Wells Fargo Securities and banker Peter Cannava are alleging the SEC was dishonest in crafting investors' statements and failed to turn them over to defense attorneys in the 38 Studios case.

A new Pawtucket Red Sox stadium financing plan unveiled by House leadership late Wednesday would use future tax revenue in a large area of the city's core to pay for a new ballpark and surrounding infrastructure. It would also give public officials the power seize land for the stadium by eminent domain.

Treasurer Seth Magaziner hopes to attract more investors to Rhode Island's bond program.

Though they may sound as far apart as they ever were on public-financing of a new Pawtucket Red Sox stadium, House Speaker Nicholas Mattiello and Pawtucket Mayor Donald Grebien appear to have found what one calls a "framework" and the other "a pathway" for a possible deal.

Employers in New York also are allowed to implement a 5% payroll tax as a way of paying some of their employees’ state income taxes.

The competitive issuance will include roughly $35 million of taxable bonds.

Rhode Island voters give the public schools a passing grade and two-thirds of them support the proposed $250-million state bond issue for public school repair and construction.

Benefit changes for the city’s public safety pensions will remain, said Moody's Investors Service.

The city's bond lawyer was not at the meeting and the board wasn't given a fiscal note saying how much the borrowing would actually cost.

House Speaker Nicholas Mattiello said he would hold hearings on the $83 million package.

The full Senate could vote next week on a financing package to replace 75-year-old McCoy Stadium in Pawtucket.

The state faces a $60 million hole in the current fiscal year and more than $200 million for fiscal 2019.

Pawtucket Mayor Donald Grebien on Tuesday urged state legislators to consider a "Plan B" if they're not willing to vote on the current stadium-financing plan to build a new Triple-A ballpark for the PawSox.

The panel recommended issuing $500 million general obligation bonds for public school construction and repair over 10 years.

Seth Magaziner said the session with Moody's, Fitch and S&P representatives enhanced transparency.

Senate President Dominick J. Ruggerio expects rewritten stadium-financing legislation to direct more revenue from a new PawSox ballpark to the City of Pawtucket to protect its ability to pay off the debt the city would incur to help build at the Apex department store site.

The Ocean State is divided over a deal to build a minor-league baseball stadium in Pawtucket.

The state's treasurer, Seth Magaziner, cited the “back to basics” strategy his office undertook about a year ago.