Northeast

Massachusetts Democrats nominated Steve Grossman for governor, setting up a primary battle with Attorney General Martha Coakley and upstart Don Berwick.

Moody's Investors Service upgraded New York's general obligation and personal income tax bond ratings to Aa1 from Aa2 Monday, citing improved governance and finances.

The Securities and Exchange Commission's investigation of the Port Authority of New York and New Jersey must determine if investors needed to know about $1.8 billion of controversial spending, securities law experts said. Others said any SEC enforcement action would not be a fix for the authority's problems.

As state and local governments make efforts to prepare for climate change, credit analysts are watching closely to see how impacts from weather-related events might affect credit quality.

New Jersey state government's growing fiscal problems may hit the state's localities, public school districts, public universities, and nonprofit hospitals.

The New York City Housing Development Corp.'s board approved $373 million in bonds to price next week for affordable housing as part of a $607 million debt package.

Bleary-eyed Rhode Island House members shortly after midnight approved a revised $8.7 billion budget bill that included a $12.5 million payment toward 38 Studios moral obligation debt.

New York City faces challenges beyond its recent labor agreement with the United Federation of Teachers, state Comptroller Thomas DiNapoli said.

Debate over the 38 Studios bond fiasco reheated late into the night as a Rhode Island lawmaker offered a bill to ban a $12.5 payment on moral obligation debt a state agency issued on behalf of the failed video game maker.

Catherine Taylor will resign as Rhode Island director of elderly affairs, effective June 20, to run for lieutenant governor.