Northeast

The Revolution Wind, a 704-megawatt offshore wind farm being developed off Connecticut's coast, received a positive ruling after a federal environmental review.

"The improved rating outlooks are critical for the Power Authority to ensure that we can continue leveraging the capital markets," said NYPA President and CEO Justin E. Driscoll.

Tuesday's competitive new money sale is to be followed with a negotiated refunding deal later this week.

The state did not rule out a future public-private partnership but said it's current focus is on public funds.

New York deals dominated the top ranks of regional issuers in the first half of 2023 even as supply sank around the Northeast and around the country.

For the three-month period ending June 30, the fund's investments returned about 3.08%.

The Massachusetts Department of Revenue announced fiscal '23's revenue numbers were 4.7% below the previous year's total.

Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.

Connecticut's baby bond trust received its initial funding without the need to borrow with the help of a debt reserve insurance policy.

"Weaker performance is in part driven by higher permanent labor costs," Moody's said. "These elements highlight rising human capital and financial strategy risks under Moody's ESG classification and are key drivers of this rating action."