Northeast

WASHINGTON — A federal court in New Jersey has approved UBS Financial Services Inc.’s $47.2 million settlement with the Securities and Exchange Commission over bid-rigging of municipal bond-related contracts as well as the amounts of restitution that are to go to each of 105 state and local issuers that were defrauded.

The Massachusetts Water Resources Authority will issue $150 million of senior revenue bonds this week to help finance water and sewer projects in the Boston area.

New York City Mayor Michael Bloomberg Friday released a $66 billion executive budget for fiscal 2012.

Pennsylvania’s year-to-date revenue collections are $506 million above budgeted estimates as the state’s personal and business tax receipts and sales-tax revenue showed strong results in April.

Acacia Financial Group will assist New Jersey on restructuring New Jersey Sports and Exposition Authority bonds to reduce debt-service costs in fiscal 2012.

Connecticut Gov. Dannel Malloy last week signed into law a $40 billion biennial budget that includes across-the-board tax increases and relies upon $2 billion of projected employee savings.

Puerto Rico faces a potential credit rating downgrade from Moody’s Investors Service as it heads to market with its first new-money general obligation bond issuance in more than two years.

The Internal Revenue Service is auditing $20 million of Series A bonds issued in December 2005 by the City School District of Middletown in Orange County, N.Y. The audit was disclosed Monday in an event notice the issuer filed with the Municipal Securities Rulemaking Board’s online EMMA system.

The New Jersey Transportation Trust Fund Authority Wednesday will issue $600 million of state appropriation-backed debt after Moody’s Investors Service downgraded such bonds last week to A1 from Aa3.

Whether the New York Insurance Department can appeal a ruling that ordered it to hand over e-mails and documents regarding the restructuring of bond insurer MBIA Insurance Corp. could be decided soon.