Northeast

Rhode Island took a big step financially last month, passing a law to overhaul its public pension system, but its local governments face heightened credit pressure and possibly more ratings downgrades in 2012, according to Moody's Investors Service.

Rhode Island wants to put tolls on a stretch of Interstate 95 near the Connecticut border in a story that resonates beyond the nation's smallest state and its neighbors.

Moody’s Investors Service has corrected its outlook to negative from stable on Montgomery County’s Aaa bond rating.

Standard & Poor’s has assigned an AA-plus rating to Suffolk County Water Authority Series 2012 revenue refunding bonds expected in early January.

Three upstate regions and Long Island received more than $100 million apiece under New York Gov. Andrew Cuomo’s regional economic development council initiative.

A new local development corporation for New York City nonprofits is starting to accept applications for tax-exempt capital financing. Build NYC Resource Corp. is part of the New York City Economic Development Corp. It held its first organizational meeting Tuesday.

Massachusetts Treasurer Steven Grossman, Administration and Finance Secretary Jay Gonzalez and Comptroller Martin Benison announced the unveiling of the the state’s Open Checkbook website.

Looking to borrow money at a better interest rate, a nonprofit retirement community has asked Rockland for a municipal revenue bond to build a $7 million, 24-unit extension.

Standard & Poor’s removed the Connecticut Housing Finance Authority’s mortgage finance bonds from its watch list and assigned a stable outlook.

The failed EnCap proposal for luxury housing and golf courses on a Bergen County landfill has cost Lyndhurst, N.J., a three-notch downgrade from Moody's Investors Service that affects $53.5 million of long-term debt.