Northeast

Moody's Investors Service cut its rating to A2 from A1.

Moody’s cited the Pennsylvania city’s continued reliance on its 2013 utility sale to sustain operations.

S&P last week downgraded the transportation authority, citing weak debt-service coverage.

Recommendations released by a bipartisan New Jersey panel last week aimed at attacking the state’s beleaguered finances centered largely on combating soaring pension and benefit costs.

As the nation’s most populous state with the largest economy, California could set the upper level benchmark for other large states such as Florida and New York that have not yet announced a sales tax remittance threshold.

The state expects to come to market with an $889.1 million general obligation sale in three tranches.

New York City’s economy grew 2.7% in the second quarter, as its unemployment fell to a historic low.

The bonds were issued by the Chester County Industrial Development Agency for West Chester University in Pennsylvania.

The city's struggles reflect those of northeast Pennsylvania’s depressed coal region.

“Strategic investments” account for the 20% increase in spending since New York Mayor Bill de Blasio took office, his budget director said Thursday.