Northeast

Moody’s Investors Service has downgraded to Baa1 from A3 the New Jersey Casino Reinvestment Development Authority’s $75 million of Series 2004 hotel room fee revenue bonds.

Connecticut Gov. Dannel Malloy kicked off his second year in office with his state of the state address, proposing a $20.77 billion budget that would take effect on July 1.

Long Beach, N.Y., stung by a recent five-notch downgrade by Moody's Investors Service and an independent audit that cited improper budgetary practices, has declared a fiscal emergency.

The state-appointed receiver for financially ailing Harrisburg wants to close on the sale or lease of the city's two main assets by the end of June — the incinerator that's ground zero in the debt crisis in Pennsylvania's capital city, and its revenue-producing parking garages.

Harrisburg's receiver said that recovery for Pennsylvania's capital city starts with finding out how much cash upfront it can get for its assets.

Shortly after two of the top three credit rating agencies improved their outlooks for the city to stable from negative, Pittsburgh sold $114.5 million of general obligation bonds to provide funds for overdue capital improvement projects and save money through a refunding.

WASHINGTON — The Internal Revenue Service is auditing $31.59 million of Series 2004A first mortgage revenue bonds that were issued by the St. Johns County Industrial Development Authority in August 2004 to help Presbyterian Retirement Communities Inc. and its affiliates finance improvements to eight retirement centers in Florida.

New York City Mayor Michael Bloomberg repeated his cry for pension overhaul while introducing the city's $68.7 billion preliminary budget and four-year financial plan for fiscal 2013.

New York City's law department has issued a request for proposals to provide bond counsel and disclosure counsel services.

Unlike many of its Rhode Island neighbors, Jamestown “is in good fiscal shape,” an auditing firm told its Town Council.