Northeast

Philadelphia's new tax on sugar-sweetened beverages is a credit positive for Pennsylvania's largest city and is expected to improve its financial position, according to Moody's Investors Service.

A transfer from Connecticut's rainy-day fund to cover a projected $316 million fiscal 2016 budget gap would be a credit negative, Moody's said.

Massachusetts intends to sell about $900 million of bonds as its top lawmakers work on a budget deal that reflects a larger-than-expected revenue shortfall projection.

The failure of Long Island’s Dowling College placed distressed higher education institutions in the spotlight, prompting a call from one of the most powerful U.S. senators for a credit warning system for students.

The board of New York’s Metropolitan Transportation Authority on Wednesday authorized a bond offering to monetize a portion of the 99-year lease payments from Hudson Rail Yards commercial and residential development.

Five new members, including two appointed by New York Mayor Bill de Blasio, have joined the New York MTA board.

Three new casinos in Upstate New York have paid $151 million in licensing fees that are being split among municipalities where the gaming facilities are being built, Gov. Andrew Cuomo announced Tuesday.

Rhode Island Treasurer Seth Magaziner chose Francis Quinn as the state's first debt manager, and Tim Nguyen as the state pension system's interim chief investment officer.

Much of the funding in Massachusetts’ new five-year, $14.8 billion capital plan goes to transit infrastructure upgrades.

The Metropolitan Transportation Authority’s Finance Committee on Monday gave its approval to send a bond offering to the MTA board for a final vote on Wednesday.