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STILL GOING STRONG: John Bellone, owner of The Breezeway Resort, The Hotel Maria, pictured, and Maria’s Seaside Cafe in Westerly, says in his 50 years as a customer of The Washington Trust Co., he’s never deferred a loan payment and has continued to meet monthly payments for the mortgages on his commercial properties throughout the pandemic, thanks to a strong business in a limited season. / PBN PHOTO/MICHAEL SALERNO

Banks on higher alert for credit weakness

In his 50 years as a customer of The Washington Trust Co., John Bellone has never deferred a loan payment. Not through the 2008...

S&P downgrades Care New England’s bond rating, projects negative outlook

PROVIDENCE – S&P Global Ratings on June 30 downgraded Care New England’s bond rating, citing ongoing financial problems exacerbated by the COVID-19 pandemic, WPRI-TV...
PROVIDENCE CITY Councilman Seth Yurdin has resigned from his post. / PBN FILE PHOTO/CHRIS BERGENHEIM

Moody’s, S&P assign stable ratings to Providence debt, CIP bonds

PROVIDENCE – After upping its ratings in 2019, Moody’s Investors Service and S&P Global Ratings held steady in their latest ratings for Providence’s general...

FM Global receives A+ credit rating

JOHNSTON – FM Global, a global commercial and industrial property insurer, received an A+ financial strength rating and stable outlook from AM Best, according...

FM Global creates new executive role for ‘diversity and inclusion’

JOHNSTON – FM Global, one of the world’s largest commercial property insurers, has appointed Sonserae Toles as vice president, inclusion, a new role at...
PROVIDENCE'S GENERAL Obligation bonds rating was upgraded to a BBB+ from a BBB and assigned a stable outlook by S&P Global Ratings. / PBN FILE PHOTO/ CHRIS BERGENHEIM

S&P upgrades Providence general obligation rating

PROVIDENCE – S&P Global Ratings has upgraded the city’s general obligation debt rating to a BBB+ from a BBB, Mayor Jorge O. Elorza announced...
CONNECTICUT LAWMAKERS CLOSED a $3.7 billion gap in the state's $43 billion two-year budget while sparing residents an income-tax increase. The budget is getting mostly positive reviews from investors. Above, the Travelers Property and Casualty headquarters in Hartford, Conn. / BLOOMBERG FILE PHOTO/GEORGE RUHE

Connecticut closes budget deficit without income-tax hike

NEW YORK – Connecticut’s $43 billion two-year budget, which spares residents an income-tax increase, is getting mostly positive reviews from investors. The budget, approved by...

R.I. behind on funding post-employment benefits, but better than rest of...

PROVIDENCE – Rhode Island’s “other post-employment benefit liabilities,” which typically consist of retiree health plans, are only 16.5 percent funded, still the highest in...
RHODE ISLAND HAS funded 16.5 percent of its other post-employment benefit liabilities, ranking No. 13 in the country. / COURTESY S&P GLOBAL RATINGS

R.I. behind on funding post-employment benefits, but better than rest of...

PROVIDENCE – Rhode Island’s “other post-employment benefit liabilities,” which typically consist of retiree health plans, are only 16.5 percent funded, according to S&P Global...

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