Northeast

Warning about a "heightened potential" for a default this summer and greater risk that Central Falls, R.I., cannot stabilize a pension plan without filing for Chapter 9 bankruptcy, Moody’s Investors Service on Friday downgraded the city’s general obligation rating one level to Caa1 from B3, affecting about $20.8 million of outstanding debt.

The Dormitory Authority of the State of New York will issue $260 million of Series 2011A lease revenue bonds on Tuesday through negotiated bid.

Vermont expects to finish its fiscal year ahead of its revenue target by about $20 million, according to Secretary of Administration Jeb Spaulding.

The Erie County Fiscal Stability Authority has agreed to borrow $98 million to help Erie County Medical Center Corp. build a nursing home at its campus on Buffalo’s East Side.

New Jersey officials last week said the U.S. Army is set to leave Fort Monmouth on Sept. 15 as planned, disputing a report that the military would remain on the 1,100-acre site for another year.

Gov. John Lynch on Wednesday vetoed a bill that would have stripped the New Hampshire Rail Authority of many powers, including the ability to issue bonds.

Northern Berkshire Healthcare Inc., unable to restructure $43 million in secured bond debt, has filed for Chapter 11 bankruptcy protection.

The Quincy Medical Center missed a $380,000 bond payment due May 31, about a month after it said it would seek a buyer.

The Nassau County Interim Finance Authority Thursday hired accounting firm Grant Thornton LLP to review the Long Island, N.Y., county's troubled finances.

New Hampshire's House and Senate agreed late Thursday afternoon on a $10.3 billion budget for fiscal 2012 and 2013, after talks had broken off the previous night.