Public finance

Philadelphia's economy has been growing. But deep cuts Pennsylvania may impose on the regional public transportion system could have serious negative impacts.

Legacy Health, an eight-hospital Portland, Ore.-based healthcare system, that abandoned merger plans in May received a downgrade and negative outlook from Moody's Ratings.

Treasurer Brad Briner said the unused money was in state accounts for years.

The state will tap reserve funds, close tax loopholes and cut spending to address a more than $1 billion shortfall in its fiscal 2026 budget.

The world's biggest opera house has been downgraded for the second time this year.

The GOP reconciliation bill will cut $888 million in revenue from Oregon, state economists said, because its state tax laws conform with federal law changes.

With the break in issuance this week, the market has firmed a bit, said Tim McGregor, managing partner at Riverbend Capital Advisors.

If the SEC grants exemptive relief to firms seeking to offer a multi-class structure, "we will see more ETFs of actively managed municipal bond strategies."

The rating agency cited increases in enrollment and improved net tuition revenues.

Metropolitan College plans to sell its Manhattan campus to The City University of New York, providing a reprieve for its bondholders.