HARRISBURG, Pa. — A Commonwealth Court of Pennsylvania judge Thursday approved the financial recovery plan aimed at keeping Harrisburg, Pa. out of bankruptcy.

"The plan is confirmed," said Justice Bonnie Brigance Leadbetter, ruling from the bench. "This plan can succeed at giving Harrisburg a chance to go forward on a fiscally sound basis. A year and a half ago I was not too optimistic. Now I am highly optimistic."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.