Northeast

The law firm taps a former key operative for the Dormitory Authority of the State of New York, perennially a top issuer.

The Vermont Municipal Bond Bank is expected to sell $44.3 million of tax-exempt bonds and federally taxable qualified school construction bonds the week of July 9.

Fitch Ratings has revised its outlook for West Warwick, R.I.'s general obligation bonds to negative from stable, while affirming its rating of $13 million of debt at BBB-plus.

Penn State University will endure the "trauma and potential credit stress" from the child sex-abuse conviction of former assistant football coach Jerry Sandusky and expected claims, Janney Capital Markets said.

A law calling for more state oversight of financially distressed Pennsylvania school districts is a credit positive, according to Moody's Investors Service.

The New York City Housing Development Corp. has approved nearly $250 million of housing bonds to finance three new developments and preserve and renovate eight others.

The New York Power Authority Board of Trustees approved $30 million in funding over a five-year period to accelerate energy efficiency market development activities and demonstration projects.

New York, New York City, and their public authorities are scheduled for $4.9 billion of bond sales during the third quarter of 2012, the New York State Comptroller Thomas DiNapoli announced Thursday.

Moody's Investors Service has revised the outlook to negative from stable on Deborah Heart and Lung Center's outstanding bonds, issued by New Jersey Health Care Facilities Financing Authority.

With the amount of New York's public authorities increased to 63 in the past year, and the amount of outstanding debt totaling $142 billion, the Authorities Budget Office is recommending consolidation and reform.