Northeast

Maine corrections officials are looking at new borrowing for the nearly $150 million renovation and expansion of an aging prison, but don’t want to ask voters for the authority.

Ongoing budget woes in Paterson, N.J. that led to a one-day government shutdown on March 1 are a credit negative for New Jersey’s third largest city, according to Moody’s Investors Service.

The ambitions of the $4.1 billion budget Philadelphia’s Mayor Jim Kenney outlined Thursday hinge largely on new borrowing and a proposed soda tax.

Pennsylvania slipped closer to a rating downgrade Thursday when Standard & Poor’s placed its AA-minus general obligation rating on credit watch with negative implications.

New York MTA expects to formally submit its proposed $29 billion five-year capital program to a state review board “in the next month or two,” an official said.

Maryland has selected its preferred private partner for the multi-billion dollar Purple Line light rail project, Gov. Larry Hogan said Wednesday.

Adam Barsky, a former budget director under former New York City Mayor Rudolph Giuliani, has been tapped to chair the fiscal control board for Long Island’s Nassau County.

New York City budget director Dean Fuleihan wants agency heads to identify "significant new savings" in time for the updated spring spending plan.

New Jersey is experiencing a deterioration of its credit quality with spreads widening in state-issued debt, according to Janney Capital Markets.

Massachusetts intends to come to market with a $1.1 billion general obligation offering, the second-largest this week.