Northeast

Philadelphia will borrow $50 million on behalf of its teetering school district to ensure that chools will open on time, Mayor Michael Nutter said Thursday.

Moody's Investors Service has put the Ba2 rating of Somerset Medical Center on review for a downgrade, affecting $80 million in outstanding debt.

Standard & Poor's lowered the Pennsylvania Housing Finance Agency to AA-minus, citing more delinquencies, declining profitability and a weakened economic base.

Moody's Investors Service downgraded Monroe County, N.Y.'s general obligation rating to Baa1 from A3 late on Tuesday.

Pennsylvania Gov. Tom Corbett, in his latest staff reshuffling, named former lawmaker Katie True of Lancaster County as secretary of legislative affairs.

Moody's is reviewing documents New York City sent it regarding substitute letters of credit in support of the city's GO bonds, fiscal 2004 subseries A-4 and A-5.

The New York State Energy Research and Development Authority raised $24.3 million of revenue bonds to finance loans for residential energy efficiency improvements.

The Connecticut Airport Authority's board of directors voted to create an economic development incentive zone at Waterbury-Oxford Airport, said Gov. Dannel Malloy.

Galaxy General, Arverne by the Sea and Bluestone Organization will help rebuild homes destroyed by Hurricane Sandy under an RFO, New York City officials announced.

The MBTA defused a legal battle over disclosure, but not the controversy, by releasing details of generous payout to retired workers of Boston's transit system.