Northeast

Frank Caprio, if he regains the Rhode Island treasurer's office, wants to go after the bond rating agencies as controversy simmers over 38 Studios.

Standard & Poor's raised its general obligation bond rating of Westborough, Mass., to AAA.

HUD's post-Sandy program awarded combined $540 million for a 10-mile berm along Manhattan's Lower East Side, a living breakwater along Staten Island's shore and protection for the Hunts Point food market and Long Island waterways.

A real estate revenue drop and lowered pension assumptions have triggered a budget deficit in Pittsburgh, said the city's financial recovery consultants.

Pittsburgh, through consultants Public Financial Management and Eckert Seamans Cherin & Mellott, has filed an update to its financial recovery plan under Pennsylvania's Act 47 workout program for distressed communities.

The Federal Transit Administration awarded about $167 million to the Port Authority of New York and New Jersey and $67 million to New Jersey Transit to help both agencies continue rebuilding and replacing after Hurricane Sandy.

Observers of New Jersey's fiscal situation agree that the state's situation is tough and will get tougher in the face of pension underfunding and a budget deficit.

Comptroller Scott Stringer named 27-year TIAA-CREF veteran Scott Evans chief investment officer for the $150 billion New York City pension funds.

The Port Authority of New York and New Jersey is negotiating a deal with developer Larry Silverstein to cut the transportation infrastructure operator's risk and increase its potential gain from the construction of Three World Trade Center.

Fitch placed $34.3 million of Bridgeport Hospital bonds on rating watch positive, citing its pending transaction with Yale New Haven Health System.