West Virginia

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.