Commonwealth of Pennsylvania

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.