Northeast

Fitch Ratings lowered West Penn Allegheny Health System's $737 million revenue bonds CCC from B-plus, citing uncertainty over its proposed Highmark affiliation.

Scranton, Pa., officials have asked a court to let it borrow an additional $9.75 million, citing the need to plug further unexpected gaps by the end of the year.

The Harrisburg, Pa., City Council cried uncle, doubling the city's earned-income tax to 2% in a move state-appointed receiver William Lynch had sought.

Moody's Investors Service downgraded the long term rating of Pennsylvania's State System of Higher Education to Aa3 from Aa2, affecting $1.5 billion of debt.

The New Hampshire Health and Education Facilities Authority has proposed paying the Internal Revenue Service an undisclosed payment under the voluntary closing agreement program to settle tax law issues with $135.4 million of adjustable rate education loan revenue bonds it issued in 2011.

Cranston, R.I., Mayor Allan Fung conveyed a sense of urgency in advance of a special City Council meeting on his proposal to reduce pension benefits for retirees.

Moody's Investors Service has cut the rating on Nassau County's outstanding general obligation debt to A2 from A1, citing further weakening in the county's financial position.

The second scheduled auction of property belonging to Curt Schilling's failed video-game company 38 Studios will be held in Providence Tuesday.

The city of Philadelphia is expected to sell $71 million of water and wastewater revenue refunding bonds on Wednesday.

The sudden breakup of hospital operator West Penn Allegheny's affiliation with insurer Highmark heightens uncertainty over hundreds of millions in bonds in a turnabout driven by adulterous sex and violence.