Northeast

Standard & Poor's revised Newport Hospital's outlook to negative from stable last week, citing an unexpected increase in operating losses. The change affects $24.9 million of bonds issued in 1999 by the Rhode Island Health and Educational Building Corp. on behalf of the hospital. Standard & Poor's rates the debt A.

Fitch Ratings revised its outlook on New York's Metropolitan Transportation Authority's revenue bonds and dedicated tax-fund bonds to negative from stable last week.

When federal stimulus money runs out after 2010, New York school districts could face a $2 billion funding gap, Comptroller Thomas DiNapoli said last week.

The Brooklyn Arena Development Corp. on Wednesday closed on the sale of $511 million of tax-exempt bonds to partially finance the controversial $1.06 billion Barclays Center in Brooklyn.

Pennsylvania Gov. Edward Rendell Tuesday picked C. Daniel Hassell to serve as acting secretary of the Department of Revenue, the same day that Stephen Stetler stepped down from the post amid corruption charges.

The Metropolitan Transportation Authority did not violate New York laws when it agreed to sell the development rights over rail yards in Brooklyn to Forest City Ratner Cos., a state Supreme Court judge ruled last week.

Natural gas drilling in upstate New York could force New York City to build a multibillion-dollar water filtration plant, substantially raising water rates in the city, says a report released last week by the city's Independent Budget Office.

New Jersey lawmakers are working to expand the abilities of the Capital City Redevelopment Corp., including the power to issue bonds and notes.

New Jersey Governor-elect Chris Christie last week announced that Lieut. Governor-elect Kim Guadagno also will serve as the next secretary of state.

Pennsylvania officials plan to price $775 million of new-money, general obligation debt in mid-January after legislators yesterday passed the state's fiscal 2010 Capital Debt Act.