West Virginia

West Virginia Gov. Earl Ray Tomblin issued an executive order creating a blue ribbon commission to study long-term transportation needs.

Moody's Investors Service downgraded the bond rating on Davis Health System, W.Va., to Ba2 from Ba1.

West Virginia's Mountain State University lost its investment-grade bond rating after announcing that it may lose its accreditation.

Moody’s Investors Service on Monday downgraded to B3 from Ba3 the long-term rating assigned to Weirton Medical Center in West Virginia.

The West Virginia Legislature is considering a plan to ask voters to approve $1 billion of bonds for state road projects, according to the Charleston Daily Mail.

In a special election Tuesday, acting West Virginia Gov. Earl Ray Tomblin, a Democrat and president of the Senate, edged out Republican businessman Bill Maloney. They were the two top vote getters in the race.

Boone County Schools in West Virginia is asking voters to pass a bond referendum next month. The Board of Education wants to sell $45.2 million of general obligation bonds in two series with 20-year maturities. Early voting will be held Aug. 5-17. Election day is Aug. 20.

The West Virginia Economic Development Authority closed on the sale of $90.8 million of lease revenue refunding bonds that achieved a net present-value savings of $6.39 million over the remaining life of the bonds, officials said.

Standard & Poor’s has raised its rating to BBB-minus from BB on revenue bonds issued for Princeton Community Hospital.

In a special primary election Saturday, voters in West Virginia selected two of three candidates to vie for governor in the general election later this year.

Bonds issued by the Monongalia Building Commission on behalf of the Monongalia Health System in Morgantown have been upgraded to A-minus from BBB-plus by Fitch Ratings and Standard & Poor’s.

BRADENTON, Fla. — Boosted by the popularity of Build America Bonds and refunding opportunities, issuers in the 11 states that comprise the Southeast region sold $34.5 billion of municipal bonds in the first half of 2010, up 7.4% over the same period last year.

WASHINGTON — Fitch Ratings downgraded the Weirton Medical Center in West Virginia on Friday after Moody’s Investors Service took similar action earlier this year. But credit analysts and hospital managers said Weirton has the cash to make its debt-service payments.

Moody’s Investors Service upgraded West Virginia’s general obligation debt one notch to Aa1 Friday, citing conservative fiscal management and favorable financial performance.

West Virginia’s pension system reported last week its unfunded liabilities jumped by about $2 billion, or 41%, in fiscal 2009. The Consolidated Public Retirement Board said obligations to retirees in the state’s seven pension funds increased to $7 billion for the fiscal year ending June 30.

The West Virginia legislature is expected today to authorize counties to issue recovery zone bonds next year. Legislators are also hoping to pass legislation to address the state’s unfunded pension liabilities.