Northeast

The New York City Transitional Finance Authority sold $758 million of future tax-secured, fixed-rate subordinate bonds last week by negotiated sale.

The Massachusetts Pension Reserves Investment Management Board approved a plan aimed at increasing investments with smaller money-management firms.

Connecticut Gov. Dannel Malloy announced the award of $5 million to 11 cities, towns, and regional planning organizations for transit-oriented development aimed at improving links between communities and their transportation infrastructure.

The City Council votes by a narrow majority to file for bankruptcy. The mayor opposes the filing, as does the city solicitor. The state has a bankruptcy restriction in place — which opponents say is too loosely written — and will likely pass a bill next week bill authorizing a takeover of its capital city.

Harrisburg's Chapter 9 bankruptcy filing immediately raised questions about the legality of the move as experts pondered the impact on the municipal bond market.

For the second time in two weeks, a Pennsylvania county has received a multi-notch downgrade from a major bond rating agency.

Nassau County, N.Y., could have a serious cash problem by the end of October unless it finalizes a budget by then, the chairman of a state-appointed oversight panel said.

New York City's Transitional Finance Authority plans to sell $750 million of future tax-secured subordinated bonds through negotiated bid on Wednesday, after a one-day retail period.

Bronx Parking Development Co. LLC, which operates the financially troubled parking garages near New York's Yankee Stadium, withdrew $2.3 million from its debt service reserve fund to make a bond payment due Oct. 1, according to a statement from trustee US Bank NA.

Standard & Poor's Thursday suspended the underlying BB rating on West New York, N.J.'s general obligation debt and removed it from credit watch, where the rating agency had placed it with negative implications on Sept. 16.