Northeast

A threat of a GO downgrade from Moody's shadowed Rhode Island's debate over the payment of moral obligation debt related to the failed 38 Studios.

Niagara Falls and Rochester's home county are among the 24 most fiscally distressed municipalities in New York, a report by Comptroller Thomas DiNapoli found.

Moody's late Monday lowered 38 Studios bonds to Baa1 from A2 and placed Rhode Island's Aa2 general obligation rating under review for downgrade.

Maine's governor signed a bill that will trigger the sale of at least $290 million in bonds and provide the state's hospitals with $484 million that they are owed.

Moody's Investors Service calls the expected infusion of federal funds for New York City Mayor Michael Bloomberg's $20 billion storm-resistance plan a credit positive.

Three of four New York State suburban counties of New York City have been struggling financially since the recession despite their wealthy demographics.

Moody's Investors Service, which downgraded Woonsocket's general obligation unlimited tax rating to B3 from B2, said it could downgrade the city even further.

The University of Pittsburgh Medical Center accused Pittsburgh Mayor Luke Ravenstahl of suing it over its nonprofit status to cover a scandal in his administration, according to a court filing.

Suffolk County Executive Steve Bellone has written Governor Andrew Cuomo requesting the re-appointment of Mitchell Pally as the Suffolk County representative to the board of New York's MTA.

The Massachusetts Bay Transportation Authority — the transit system that serves Greater Boston — is staring at a $118 million gap for fiscal 2014, which begins July 1.