Northeast

State Senate Republicans in Albany have cut $770 million in capital financing for New York’s Metropolitan Transportation Authority and rejected the agency’s request for a $7 billion bonding cap increase.

New York City intends to sell $370 million of fixed-rate, tax-exempt new money bonds and roughly $100 million of fixed-rate taxable bonds via two separate competitive bids on Tuesday, subject to market conditions.

Moody’s Investors Service affirmed the Baa1 rating assigned to Boston Medical Center’s bonds, and revised the outlook to stable from negative.

A court ruling that relieves Boston of its financial obligation to a police education incentive program is a credit positive, Moody’s Investors Service said.

Moody's Investors Service affirmed the A1 rating on Jackson Laboratory's fixed-rate series 2007 revenue bonds, issued through the Association of Bay Area Governments Finance Authority for Nonprofit Corporations, with a stable outlook.

Harrisburg's intention to skip general obligation bond payments totaling $5.3 million that are due Thursday have bond market and other observers wondering what will happen next in Pennsylvania's capital city.

New York City's fiscal condition continues to improve, but remains at risk for deficits because it has relied on nonrecurring resources to balance its budget, New York State Comptroller Thomas DiNapoli said in an annual report on the city's fiscal plan.

Fitch Ratings on Wednesday lowered the general obligation bond rating of Providence, R.I., three notches to BBB from A with a negative outlook, affecting $44.5 million of debt.

More shoes began to drop in Suffolk County, N.Y., as Standard & Poor's on Tuesday placed its AA long-term and underlying ratings on credit watch with negative implications.

State Treasurer Steven Grossman appointed Enrique Zuniga to the nascent five-member Massachusetts Gaming Commission.