Northeast

Providence may appeal a Rhode Island Superior Court ruling Monday that for now stops it from switching police and fire retirees to Medicare after they turn 65.

New Jersey's unfunded pension liability will probably worsen because the state does not plan to fully fund its actuarial annual required contributions to pensions until fiscal 2018, Fitch Ratings said Tuesday.

Janney Capital Markets has expanded the public finance unit in its New York City office with the hiring of two veteran bankers.

The Triborough Bridge and Tunnel Authority will offer a mandatory tender and purchase Tuesday of all three outstanding series of its variable-rate general revenue bonds, Series 2003 and 2005, totaling about $535 million.

The Pittsburgh City Council is scheduled to vote Tuesday on a sale of $125 million in general obligation bonds. Officials say it’s the city’s largest bond ever, and the first new debt issued under Mayor Luke Ravenstahl.

Anyone who needed a wakeup call got one 10 days ago when Moody's Investors Service threw a high, hard one at Connecticut, lowering the state's general obligation bond rating to Aa3 from Aa2, citing budgetary and pension shortfalls, and depleted reserves.

Rhode Island’s cash advance to East Providence is a credit positive for the financially strapped city, according to Moody’s Investors Service.

Moody’s Investors Service withdrew its rating for Lackawanna County, Pa., affecting $202.7 million of outstanding general obligation debt.

PFM Advisors, a division of PFM Asset Management, has named Biagio Manieri director of research.

Another player in the Harrisburg debt crisis intends to seek office.