TRENTON, N.J. (AP) -- The Standard & Poor's financial ratings agency has lowered its outlook on New Jersey bonds to negative.
The agency made the change Tuesday based on what it called the state's continuing structural budget imbalance and optimistic revenue projections for the fiscal year that began July 1.
The state's outlook had been stable.
S&P affirmed its ratings on New Jersey's general obligation bonds and other debt, but warned that a future ratings downgrade is possible.
The agency also assigned a negative outlook to nearly $400 million in outstanding school facilities construction bonds and notes but assigned the debt an `A+' rating.
Democrats in the Assembly are hoping to get a clearer picture of the state's fiscal year-end fiscal balances from the Christie administration at a hearing on Wednesday.
New York state and Eastman Kodak Co. have reached a deal that will keep some of the troubled company's operations in Rochester and provide $49 million for environmental cleanup at the once bustling Eastman...
New York state and Eastman Kodak Co. have reached a deal that will keep some of the troubled company's operations in Rochester and provide $49 million for environmental cleanup at the once bustling Eastman Business Park.
Wednesday, June 19 2013 1:16 PM EDT2013-06-19 17:16:13 GMT
Kolcraft is recalling more than 96,000 Jeep Liberty strollers after at least 18 people were injured by tire blowouts, the Consumer Product Safety Commission said Wednesday.
Kolcraft is recalling more than 96,000 Jeep Liberty strollers after at least 18 people were injured by tire blowouts, the Consumer Product Safety Commission said Wednesday.
Wednesday, June 19 2013 8:30 AM EDT2013-06-19 12:30:41 GMT
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Wednesday, June 19 2013 6:12 AM EDT2013-06-19 10:12:52 GMT
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion...
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion proposal...
Tuesday, June 18 2013 11:03 PM EDT2013-06-19 03:03:58 GMT
Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips.
Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips kind of what you see on Vine.
Tuesday, June 18 2013 2:57 PM EDT2013-06-18 18:57:05 GMT
Chrysler photo via AP
Chrysler said it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire.
Chrysler said it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire.
Tuesday, June 18 2013 12:20 PM EDT2013-06-18 16:20:04 GMT
The director of the National Security Agency said Tuesday the government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange.
The director of the National Security Agency said Tuesday the government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange.
Monday, June 17 2013 10:10 AM EDT2013-06-17 14:10:37 GMT
For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.
For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.
Wednesday, June 19 2013 10:55 PM EDT2013-06-20 02:55:03 GMT
The actor James Gandolfini, best known for his award-winning portrayal of New Jersey mobster Tony Soprano in the HBO series "The Sopranos," has died in Italy. He was 51.
The actor James Gandolfini, best known for his award-winning portrayal of New Jersey mobster Tony Soprano in the HBO series "The Sopranos," has died in Italy. He was 51.
Wednesday, June 19 2013 10:53 PM EDT2013-06-20 02:53:25 GMT
Joe Torre's daughter caught a 1-year-old boy who fell from a fire escape outside a second-floor apartment in the Bay Ridge section of Brooklyn Wednesday morning.
Joe Torre's daughter caught a 1-year-old boy who fell from a fire escape outside a second-floor apartment in the Bay Ridge section of Brooklyn Wednesday morning.
New York state and Eastman Kodak Co. have reached a deal that will keep some of the troubled company's operations in Rochester and provide $49 million for environmental cleanup at the once bustling Eastman...
New York state and Eastman Kodak Co. have reached a deal that will keep some of the troubled company's operations in Rochester and provide $49 million for environmental cleanup at the once bustling Eastman Business Park.
Wednesday, June 19 2013 6:51 PM EDT2013-06-19 22:51:22 GMT
Franklin Reyes, 17, was in court Wednesday. He is charged with the death of 4-year-old Ariel Russo.
Franklin Reyes, 17, was in court Wednesday. He is charged with the death of 4-year-old Ariel Russo. He is accused of driving without a license, then fleeing police, jumping a curb, and hitting Ariel and her grandmother as they were walking to school.
Wednesday, June 19 2013 6:13 PM EDT2013-06-19 22:13:15 GMT
More than 70 percent of New Jersey residents have seen or heard the state's "Stronger than the Storm" advertising campaign, according to a new Rutgers-Eagleton poll.
More than 70 percent of New Jersey residents have seen or heard the state's "Stronger than the Storm" advertising campaign, according to a new Rutgers-Eagleton poll.
Wednesday, June 19 2013 4:30 PM EDT2013-06-19 20:30:42 GMT
The FBI has found possible human remains in a dig at the New York City house once occupied by a famous gangster. An FBI spokesman confirmed Wednesday that agents found material that they want to test as part of an investigation.
The FBI has found possible human remains in a dig at the New York City house once occupied by a famous gangster. An FBI spokesman confirmed Wednesday that agents found material that they want to test as part of an investigation.
