Commonwealth of Pennsylvania

The petition calls the $1.25 billion budget-balancing move unconstitutional.

Senate consideration is next as Pennsylvania winds through the fourth month of its budget stalemate.

The short-term lifeline will enable the commonwealth to make Medicaid payments while it will lacks a revenue plan.

The governor said the lease agreement could provide $200 million up front for the cash-strapped state.

Lawmakers can't agree on how to fund the state budget, while the governor looks for a loan from the state liquor monopoly.

The governor said he would borrow against $1.25 billion in profits from the state liquor system.

Issuance of municipal bonds fell 33.9% to $26.7 billion compared to $40.4 billion in September 2016.

The rating agency calls on the commonwealth to match recurring revenues with expenses.

House Majority Leader Dave Reed blames 'a small group of unknown people' at S&P for the state's downgrade while the Senate rejects a House revenue plan.

S&P Global Ratings cited fiscal shakiness while Gov. Tom Wolf called for an end to the budget impasse.

Gov. Tom Wolf has threatened further cuts without a balanced $32 billion fiscal 2018 budget.

The state awaits word on how Gov. Tom Wolf will handle the situation as bond rating agencies continue to hover.

Continued lack of a budget will mean a spending freeze and further rating agency backlash.

Gov. Tom Wolf has threatened a spending freeze and rating agencies have threatened more downgrades.

Volume shrank from August 2016, when the market was on a record-breaking run.

State officials say they won't permit unlimited short-term borrowing.

Moody’s projects more utility privatizations as local issuers look to cope with financial distress and sidestep maintenance and compliance costs.

Eugene DePasquale urged the system to pay Wall Street less and better educate its board members.

"This is deeply troubling," treasurer Joe Torsella said of the commonwealth's revenue situation

Municipal bond volume ended the month of July down 20% as refundings plummeted.