State of New Jersey

Financial damage from the COVID-19 pandemic forced New Jersey Gov. Phil Murphy to retreat from plans to build up the state’s reserves.

S&P Global Ratings follows Moody's Investors Service in revising state’s credit outlook downward on revenue losses from COVID-19 pandemic.

The state's tough budget position was underscored by an agreement with noteholders to extend a $750 million maturity while paying them higher interest.

Financial strains from COVID-19 were the primary factor in downgrading the state to A-minus from A. The outlook was revised to negative from stable.

Phil Murphy is developing an emergency borrowing plan to combat revenue loss amid the coronavirus pandemic.

The rating agency affirmed its A3 rating of the state's general obligation bonds; the outlook revision affects $35.9 billion of debt.

The Garden State is extending its 2020 fiscal year calendar by three months in an effort to fully gauge economic fallout from the ongoing COVID-19 pandemic.

Gov. Phil Murphy’s administration places nearly $1 billion of discretionary spending in reserve through the 2021 fiscal year amid economic struggles from virus.

The New Jersey state teachers' union and state Senate President Steve Sweeney announced an agreement to lower school district and employee healthcare costs.

After years of contentious state budget battles over NJ Transit, state Senate President Steve Sweeney is proposing a permanent funding solution.