Northeast

Moody's Investors Service Tuesday downgraded Lackawanna County, Pa., five notches to a speculative-grade Ba3 from Baa1.

The Port Authority of New York and New Jersey has some tailwinds at its back Tuesday when it sells a record $1 billion of taxable 40-year bonds to finance World Trade Center reconstruction.

An ambitious proposal for a hotel and conference center adjacent to the new Yankee Stadium would require demolition of an underused parking garage that helps back a troubled parking revenue bond deal.

A website devoted to open government in Vermont has additional information about state contractor expenses.

Moody’s Investors Service has affirmed the A3 rating for Burlington, Vt.’s $63.2 million of general obligation bonds, while maintaining a negative outlook.

Supporters of the library in bankrupt Central Falls, R.I. have scheduled a “Save the Library” fundraiser for Sept. 30 to help keep it open.

The Dormitory Authority of the State of New York has approved $1.5 billion in financing for education and health care.

The Hudson Yards Infrastructure Corp. expects to price $1 billion of new- money bonds the week of Oct. 17 to benefit the extension of the No. 7 subway line in New York City’s transit system from its current terminus on Eighth Avenue to the Hudson Yards redevelopment area.

Revenues for the first five months of fiscal 2011-12 are $3.3 billion higher than last year, but remain $75.5 million below projections for an updated financial plan that’s operating on a “razor-thin margin,” according to New York Comptroller Tom DiNapoli’s cash report for August.

Standard & Poor’s affirmed its AAA long-term rating on Yale University revenue bonds issued through the Connecticut Health and Educational Facilities Authority, as well as the AAA long-term rating and A-1-plus short-term rating on various long- and short-term debt issued by and for the university.