Northeast

Rockland County, N.Y. county executive Ed Day hailed Moody's Investor’s Service upgrade of his county's general obligation bonds to Baa2 from Baa3.

New York City projects a balanced budget and manageable out-year budget gaps under current economic conditions, State Comptroller Thomas DiNapoli told the Financial Control Board.

The MBTA Retirement Fund defended its performance and called a highly critical Pioneer Institute report 'preconceived."

Projected higher tax revenues and pension savings may narrow New York City's outyear budget gaps, according to city Comptroller Scott Stringer.

New York's MTA proposed a $14.2 billion fiscal 2015 budget and four-year financial plan that assumes an average annual increase of $260 million to labor costs stemming from two settlements.

Trains are now carrying passengers on the first segment of Washington rail system extension funded with $3 billion of federal loans and toll revenue bonds.

Cronyism and “endemic” conflicts of interest make the pension fund of Greater Boston transit employees a cautionary tale, said a report by Pioneer Institute.

The finance committee of New York's MTA approved a motion to issue special obligation taxable refunding bonds that would fully pay defeased bonds at their early redemption rate and could save the authority $32 million.

New York City’s five public employee pension funds returned 17.4% for fiscal 2014 to bring their total value to a record-high $160.5 billion, Comptroller Scott Stringer said.

The Port Authority of New York and New Jersey board of commissioners has elected John Degnan as its new chairman.