Northeast

Allentown, Pa.'s 50-year, $220 million water and sewer lease deal with Lehigh Valley Authority to plug a pension gap is a credit positive, said Moody's.

Massachusetts Treasurer Steven Grossman appointed Akash Deep and Philip Shapiro to the new Massachusetts capital debt affordability committee.

The Connecticut Bond Commission earmarked $11.7 million for two Department of Transportation projects at the Stamford train station and in four other communities.

Six months after announcing a proposed merger, Trinity Health and Catholic Health East said Thursday they've closed the deal, which will create the second-largest health care provider in the country.

New York City Mayor Michael Bloomberg proposed a $69.8 billion executive budget that includes an additional $800 million in tax revenue beyond January forecasts.

New York University's Mitchell Moss said tolling the Van Wyck Expressway in Queens borough would generate a reliable revenue stream for the debt-strapped MTA.

Moody's Investors Service upgraded the bond rating of West Penn Allegheny Health System to Caa2 from Ca after Highmark closed on its $604 million takeover.

New York State legislators will meet Thursday with officials of SUNY Downstate Medical Center to discuss a sustainability plan for a Brooklyn hospital that had been slated to close.

New York Comptroller Thomas DiNapoli has criticized Rockland County's budget as overly optimistic.

Highmark wasted no time taking over West Penn Allegheny Health System after regulators approved a $604 million deal that ended 18 months of turmoil and offered bondholders 87.5 cents on the dollar.