Northeast

Moody’s Investors Service downgraded Niagara Falls, N.Y.’s general obligation rating two notches to Baa1 from A2 and kept the city on review for a further downgrade.

Maine’s treasurer and governor are disagreeing about the sale of $64 million in bonds.

Massachusetts officials introduced legislation to overhaul OPEB benefits in what Treasurer Steven Grossman called "a game-changer" for Bay State finances.

Pennsylvania lawmakers will debate legislation to forbid governments from interest-rate swap transactions. Supporters say unsophisticated governments can lose too much money from the complex deals.

Pennsylvania has released guidelines for public-private partnerships under the state's new P3 authorization law, and announced it would accept unsolicited proposals during May and October.

New York's Metropolitan Transportation Authority plans a $500 million sale of Series 2013A transportation bonds for Wednesday, after a one-day retail period.

The New Jersey Assembly and Senate are considering $1.5 billion in bonds related to Hurricane Sandy.

West Penn Allegheny Health System, bondholders and Highmark are continuing talks about a $475 million affiliation agreement, with West Penn possibly avoiding bankruptcy.

In a wide-ranging State of the State speech Wednesday, New York Governor Andrew Cuomo announced a new organization to aid stressed localities and programs affecting the state government’s finances.

Allentown, Pa.'s City Council nixed a May referendum that could have complicated plans to lease out the city water and sewer systems, which Mayor Ed Pawlowski says would defray pension costs.