Northeast

The credit effect of the recent snowstorm and ensuing power outage on individual municipalities in Connecticut will depend on each local government’s level of financial flexibility, measured by existing liquidity and budgetary cushion, Moody’s Investors Service said.

The University of Connecticut plans to issue $200 million of general obligation debt-service commitment Series 2011A new-money bonds, and $20 million of Series A refunding bonds, beginning with a two-day retail period that commences Friday.

The board of New York's Metropolitan Transportation Authority discussed the proposed four-year budget and capital plan for 2012 to 2014 on Wednesday amid the hovering shadow of labor negotiations.

Westchester County, N.Y., is maintaining its rainy-day fund to protect its triple-A status from all three major bond rating agencies, county Executive Robert Astorino said in his $1.7 billion budget presentation to the Westchester legislature.

East Providence has joined Central Falls as a Rhode Island municipality under state oversight.

While Pennsylvania officials prepared to implement a takeover of Harrisburg after a deadline passed for the city to submit a recovery plan, another domino fell in the capital city.

The Dormitory Authority of the State of New York plans a sale of $135 million revenue bonds under its school districts revenue bond financing program Wednesday, after a one-day retail period.

The attorney representing the Harrisburg City Council in its bankruptcy filing is asking the Internal Revenue Service and the Securities and Exchange Commission to investigate the financing of the incinerator renovation project that left Pennsylvania's capital city with $310 million of bond debt and on the cusp of a state takeover.

The New York City Municipal Water Finance Authority expects to issue $450 million of new bonds Tuesday.

Massachusetts is scheduled to sell $1.2 billion of general obligation revenue anticipation notes in two $600 million series by competitive sale on Tuesday.