Rhode Island

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.

Landmark pension overhaul legislation cleared Rhode Island's House and Senate finance committees in amended form Thursday night, and the General Assembly is scheduled to vote on the measure, proposed by Gov. Lincoln Chafee and General Treasurer Gina Raimondo, later this week.

Rhode Island's House and Senate finance committees are scheduled to meet at 5 p.m. Thursday to consider an amended version of pension-overhaul legislation on the heels of a report that pegs the state's unfunded pension liability at nearly twice what state officials have estimated.

Rhode Island's state and local unfunded pension liability is $18 billion - nearly twice what state officials estimate - according to an Arlington, Va., think tank.

Retired police officers and firefighters, and unions representing municipal employees in Central Falls, have filed objections in federal bankruptcy court to Rhode Island-appointed receiver Robert Flanders’ plan to change their pensions and contracts.

Rhode Island, the nation's smallest state, has a big problem - unfunded pensions. And it's not alone.

Rhode Island's General Assembly was scheduled to meet late Tuesday afternoon in special session to consider overhauling the state's pension system.

A $50 million housing issue that voters approved in 2006 has led to the development of more than 1,200 homes in Rhode Island, an advocacy group said.

Standard & Poor’s revised its outlook to stable from negative and affirmed its BB-minus rating on the Rhode Island Health and Educational Building Corp.’s remaining $12.7 million series 1998 revenue bonds, issued for Roger Williams Medical Center.

Moody's Investors Service late Thursday downgraded the general obligation rating of North Providence, R.I., to Baa2 from Baa1. The outlook remains negative.

Supporters of the library in bankrupt Central Falls, R.I. have scheduled a “Save the Library” fundraiser for Sept. 30 to help keep it open.