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(Updated, 3:19 p.m.) Gov. Lincoln D. Chafee on Tuesday issued a statement defending the need for Rhode Island to repay the 38 Studios moral obligation bonds and criticizing gubernatorial candidates Cranston Mayor Allan W. Fung and Ken Block, who have voiced opposition to repayment. more
An assessment of the 38 Studios LLC moral obligation bond debt service conducted by SJ Advisors concluded that failure to repay the bonds would probably result in a downgrade of Rhode Island’s bond rating to “junk bond” status. more
Moody’s Investors Service issued a warning on April 17 regarding Rhode Island’s failure to reach a settlement with public employee unions over the state’s pension lawsuit, which will go trial on Sept. 15 following the breakdown in renewed mediation talks earlier this month. more
(Updated, 5:34 p.m.) A Superior Court judge ordered state and public employee union representatives back into mediation on Monday after 61 percent of eligible police officers and retirees voted to reject the proposed settlement of the state’s pension lawsuit. more
(Updated, 5:30 p.m.) Fifty retired state employees and public school teachers have filed a lawsuit against the state of Rhode Island, objecting to their inclusion in the proposed class-action settlement of the state pension reform lawsuits. more
Fitch Ratings affirmed its “AA” rating and stable outlook on Rhode Island in light of last week’s announcement that a settlement reached between the state and public employee unions on pension reform would increase Rhode Island’s unfunded pension liability by $232 million. more
Gov. Lincoln D. Chafee and General Treasurer Gina M. Raimondo have reached an agreement with representatives of government workers and retirees to soften the effects of the 2011 state pension overhaul, they announced Friday. more
(Updated, Feb. 14, 2:34 p.m.) The State Retirement Board on Friday voted to approve a proposed settlement of the state pension reform lawsuits, according to the R.I. Department of Administration. more
(Updated, 6:33 p.m.) Responding to the abrupt cancellation of a Wednesday press conference expected to announce details of a settlement in the state’s pension battle with public employee unions, Rhode Island legislative leaders said the only thing the General Assembly can do is “wait and see” how the settlement unfolds. more
(Updated 2:10 p.m.) A press conference expected to publicize details of a proposed settlement of the state’s pension battle with public employee unions was abruptly canceled early Wednesday morning at the joint request of state and union attorneys, according to the Federal Mediation and Conciliation Service. more
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