Economy

S&P cited increased near-term capital needs in explaining the lowered outlook.

The bank was one of 225 credits Moody's placed on review for possible upgrade July 25 when it released a revised rating methodology.

The Federal Reserve's preferred measure of inflation held steady at 2.6% for the third month in a row, a positive reading that increases the odds of a September rate cut.

The sale follows the utility's successful initiation of two nuclear power units in the last 13 months.

Property taxpayers want a state court to order the city to reduce its 2024 tax levy by $187 million earmarked for a now-downsized mass transit plan.

While the nonprofit hospital sector shows signs of stabilizing, Houston-based Texas Children's Hospital faces fiscal problems that led to two rating downgrades.

The purpose of restructuring is to help the Pennsylvania hospital operator "avoid a bankruptcy scenario," said Dora Lee of Belle Haven Investments.

New facilities should reduce and ultimately eliminate the authority's current $5 million a month operating loss.

The estimated $100 million raised annually from the 0.5% tax increase on the Nov. 5 ballot could be used to back bonds for affordable housing.

The possibility of moving stalled housing bills forward combined with promises of down payment assistance is offering hope to housing advocates.