Rhode Island

Rhode Island has received 12 proposals from vendors seeking to run the state's new defined-contribution program, which pension overhaul legislation passed last fall created.

A federal bankruptcy judge’s approval of collective bargaining contracts between bankrupt Central Falls and retired employees is a credit positive for the city, according to Moody’s Investors Service.

Rhode Island General Treasurer Gina Raimondo’s office will host a workshop Tuesday for municipalities with locally administered pension plans in advance of the reporting deadline set by the recently passed Rhode Island Retirement Security Act.

Five days after it placed Woonsocket, R.I., on review for downgrade, Moody's Investors Service lowered the city's long-term general obligation rating to Ba2 from Ba1, affecting $225 million of parity debt.

A bill to provide East Providence a $12.6 million advance on state education aid to prevent it from running out of cash Friday is headed for Rhode Island’s Senate.

Bond lawyers and restructuring experts agreed that bankruptcy court approval of pension agreements between Central Falls, R.I., and its retirees and public sector unions is good for the bond market.

Patrick Rogers will resign Friday as chief of staff and executive counsel to Rhode Island Gov. Lincoln Chafee. George Zainyeh will succeed him.

Rhode Island General Treasurer Gina Raimondo, who championed the state law that changed the pension system for public employees, received the 2011 Urban Innovator Award from the Manhattan Institute for Public Research.

Moody's Investors Service on Thursday placed the Ba1 general obligation bond rating of Woonsocket, R.I., on review for possible downgrade, affecting about $205 million of debt.

Rhode Island two months ago overhauled its public employee pension system, but its work is far from over.

East Providence, R.I., has received another multi-notch downgrade, this time from Standard & Poor's, which lowered the city's long-term general obligation rating three levels to a junk-status BB-plus from BBB-plus.

East Providence, R.I., officials are upset over Gov. Lincoln Chafee's appointment of a five-member commission to oversee the city's finances.

Rhode Island took a big step financially last month, passing a law to overhaul its public pension system, but its local governments face heightened credit pressure and possibly more ratings downgrades in 2012, according to Moody's Investors Service.

Rhode Island wants to put tolls on a stretch of Interstate 95 near the Connecticut border in a story that resonates beyond the nation's smallest state and its neighbors.

Two years ago, when Gina Raimondo was deciding to run for Rhode Island general treasurer, she saw a newspaper article about budget cuts affecting libraries in Providence and Cranston and bus service on nights and weekends.

Moody's Investors Service late Monday downgraded the general obligation bond rating of East Providence, R.I., three notches to Ba1 from Baa1, affecting about $22.4 million of outstanding debt.

Pension overhaul in Rhode Island has prompted the municipal finance advisor PFM Group to open an office in Providence.

Rhode Island’s pension overhaul legislation, signed recently by Gov. Lincoln Chafee, is a credit positive, according to Moody’s Investors Service.

Rhode Island's passage of landmark pension overhaul legislation could clear a path for similar moves in other states that need it, municipal and bond market observers say.

East Providence has joined Central Falls as a Rhode Island municipality under state oversight.