Northeast

State officials called the one-notch rating cut to Aa1 with a stable outlook "a Trump downgrade" due to the state's heightened exposure to presidential policies.

Daniel Cohen hopes to leverage his decades of experience to grow Cabrera's brand. 

Student loan issuers are watching federal policy, from the Department of Education to the tax-exemption, to decide on the timing and size of their annual deals.

The DASNY program allows the schools to "align their borrowing costs with the aid that they receive from the state," said CEO Robert J. Rodriguez. 

Federal threats to grants and the tax exemption continue to push universities to the bond market. This week, it was MIT, Yale, and Suffolk University's turn.

With a funding agreement in the state budget, the Metropolitan Transportation Authority is gearing up to start capital repairs — and find $3 billion of savings. 

Lawmakers are putting the final touches on the budget, and Gov. Kathy Hochul said there is broad agreement. Federal cuts may yet scramble everything.

The $500 million deal was delayed after the tariff announcement rocked the markets. It has priced, but offering documents include new trade war disclosures.

New Britain is reaping a rating reward from higher revenues and stronger budgetary practices, including full actuarial funding of its pensions.

S&P revised the outlook for the Maryland Transportation Authority's outstanding revenue bonds to negative from stable due to the timing of the federal funding needed to rebuild the Francis Scott Key Bridge that was damaged by a cargo freighter in March 2024.