Northeast

Standard & Poor’s last week withdrew its rating on North Philadelphia Health System’s 1997A bonds after downgrading the debt to CCC from AAA.

The 2007 reform of New York State’s workers’ compensation laws was intended to reduce costs to employers. The policy change also began the gestation of a new credit that is expected to come due in the second week of November.

WASHINGTON — Triple-A rated ­Baltimore County expects to competitively sell $262 million of general obligation bonds tomorrow, including the largest amount of recovery zone economic development bonds sold by any issuer to date.

Pennsylvania Gov. Edward Rendell last week announced a $22 million allocation towards technology companies, creating a potential 375 jobs in the industry.

Fitch Ratings last week affirmed its AA rating and stable outlook on ­Pennsylvania’s approximately $8.7 billion of general obligation debt.

New York City’s construction boom is over, according to a report released last week by the New York Building Congress.

New Jersey’s unemployment rate reached 9.8% in September, up from 9.6% in August, as officials estimate that the state lost roughly 12,700 nonfarm wage and salary employment positions.

Connecticut has designated 62 communities as eligible to use the state’s $225 million allocation of recovery zone bonds, Gov. M. Jodi Rell announced last week.

Erickson Retirement Communities, developer of 19 continuing-care retirement communities throughout the U.S., filed for Chapter 11 bankruptcy Monday in U.S. Bankruptcy Court in Dallas.

New York Gov. David Paterson again raised the spectre of a downgrade yesterday as he cajoled legislative leaders to take action to cut a $3 billion current-year budget deficit. The state faces a serious cash-flow problem in December that could affect its rating if nothing is done, he said.