Northeast

Unfunded pension liability is on the back burner in Pennsylvania's primary while business consultant and actuary Richard Dreyfuss joins others warning about a problem that has bond rating agencies on the alert.

Municipal market analysts are pessimistic about New Jersey and Moody's Investors Service downgrade of New Jersey on Wednesday underscored their opinions.

Debate among Rhode Island politicians percolates over payment of 38 Studios debt, and a consulting firm hired to explore the fallout of nonpayment in the bond market warned of negative snowballing should the state not pay.

Rhode Island's recent $78.7 million general obligation bond refinancing will save the state $6.7 million over the life of the issue, which matures in 2025, according to General Treasurer Gina Raimondo.

Moody's Investors Service has upgraded Yonkers, N.Y., general obligation bonds to A3 from Baa1 on Monday.

Mayor Bill de Blasio's 10-year plan to build and preserve so-called affordable housing is credit neutral for New York City, according to Moody's.

Cost containment is vital to pension fund management, according Massachusetts Pension Reserves Management Board executive director Michael Trotsky.

Standard & Poor's put Rhode Island's GO bonds on credit watch negative and threatened a possible multiple-notch downgrade should the state default on 38 Studios debt.

New York City's most recent budget plan is credit negative, said Moody's Investors Service, which cited the effect of the proposed contract settlement with teachers on out-year budget gaps.

Municipal finance advisory firm PFM Group will sponsor a seminar on financial planning in Boston for higher education business officers.