Pawtucket’s bond rating downgraded

Fitch, the debt-rating agency, has downgraded Pawtucket’s approximately $48.2 million in outstanding general obligation bonds to BBB+ from A-. The rating outlook was revised to negative from stable. Fitch, based in New York, said the downgrade reflects the deterioration of the city’s financial flexibility because of weakening reserves and a more stringent statewide property-tax cap, as well as a decline in the local housing market pressuring property-tax collections and revenue. General- and school-fund balance reserve levels are in their fourth year of decline, reversing the growing trend seen in the earlier part of the decade. Other credit concerns center on the city’s high and growing fixed-cost burden associated with the severely underfunded pension system and below-average economic indicators, Fitch said.

UPS workers move toward joining Teamsters

A majority of workers at seven UPS freight terminals in New England, including one in East Providence, have signed authorization cards to become members of the Teamsters union. The cards will be sent to a neutral arbitrator to decide if the Teamsters will become the official bargaining unit for the 315 workers, the union said. “These local unions followed the process we have established to make this campaign successful, and soon the New England employees will join their coworkers in Indianapolis in getting a contract that addresses their concerns about fair wages, improved health care and pensions,” Ken Hall, director of the Teamsters package division, said in a statement. The other six locations are Boston, Worcester, Springfield, South Portland, Maine, New Haven, Conn., and Manchester, N.H.

Tests indicate expanded use for Amgen drug

Amgen Inc.’s Enbrel, a drug that is manufactured in West Greenwich and is used to treat adults with psoriasis, helped children overcome symptoms of the skin disease for the first time in a large clinical trial. More than half of children on Enbrel had 75 percent improvement in skin lesions, while about 1 in 10 did that well on a placebo, researchers said in this week’s New England Journal of Medicine. Previous studies showed that about 48 percent of adults reached the same goal with Enbrel, at twice the dose. Amgen has submitted the findings to U.S. regulators, and said it hopes to win expanded marketing approval before the end of September. The medicine, introduced in 1998 for rheumatoid arthritis, generated more than $3 billion in sales for Amgen in 2007, with about one-third from psoriasis. Enbrel has the potential to become the first systemic therapy approved for children with psoriasis, researchers said.

Mashpee Wampanoag casino hearing slated

The federal Bureau of Indian Affairs will be visiting Middleboro, Mass., March 4 to hold a hearing regarding the Mashpee Wampanoag tribe’s application to take into trust 540 acres on which they want to build a $1-billion resort casino. The Middleboro site would contain a casino, hotel, restaurants, entertainment venues, convention facilities, a golf course and a water park. The BIA hearing will be limited to testimony about environmental concerns. If the land is put in a federal trust, the tribe becomes exempt from state law, meaning it could open a casino and wouldn’t have to pay state taxes.

Textron Financial Corp. expansion planned

Textron Financial Corp., a unit of Providence-based Textron, said this morning it will expand its finance group by opening Textron Financial Ltd. based in Guildford, Surrey, United Kingdom. The company’s new European operation will serve all of Western Europe, providing inventory financing, also known as floor plan financing, to a variety of dealers in coordination with product manufacturers.

Thames Shipyard to pay pollution settlement

Connecticut officials say the Thames Shipyard and Repair Co., of New London, has agreed to pay $787,011 to settle allegations that it has violated pollution regulations for years at its facilities on the Thames River where it repairs and services commercial vessels. The settlement calls for the company to spend $568,311 on projects to improve its shipyard and the surrounding environment. Shipyard president John Wronowski says the fine and required activities are substantial, but the settlement allows the shipyard to operate and be in full compliance with all state environmental requirements.

Skybus adds to flights from Portsmouth, N.H.

Low-fare Skybus airline is expanding its service at Portsmouth International Airport in New Hampshire. It began two direct flights to and from North Carolina on Tuesday, adding to its current two flights a day to Ohio and two to Florida. The flights connect Portsmouth with Piedmont Triad International Airport, in the Greensboro/Winston-Salem area.

Mall stores cited for child-labor violations

Massachusetts Attorney General Martha Coakley has issued 31 citations to mall retailers that allegedly violated child labor laws during the holiday season. Coakley says there were 177 total violations at stores in malls from Cape Cod to western Massachusetts. The attorney general’s office says one of the worst offenders was Hollister Company, a clothing store owned by Abercrombie & Fitch. Its Hyannis location at the Cape Cod Mall was cited for 15 instances of having people under 17 years old work past 10 p.m. on a night before a school day. That violates a law passed last year. The store was assessed $6,000 in child-labor penalties. The AG also says Hollister’s Burlington Mall location employed 57 minors without work permits.

Medical information network coming to Maine

Health-care providers in Maine on Wednesday unveiled a statewide electronic system for sharing medical information, a network intended to improve the quality of care, reduce medical errors and slow the growth of health care costs. Doctors and hospital and public health officials announced that $4 million has been raised to begin construction of the nonprofit HealthInfoNet network, which is slated to be launched later this year. The network was designed to give caregivers quick access to key clinical information, which can reduce medical errors and result in better treatment decisions. Experts said much of the patient-specific clinical information in Maine is on paper, making it cumbersome to access and difficult to share. The new “electronic health record” offered through HealthInfoNet will contain information drawn from separately maintained records in doctors’ offices, hospitals, laboratories and other locations.

Drop in death rate prompts layoffs at quarry

Rock of Ages in Barre, Vt., is laying off 25 of its 78 granite quarry workers. The company said a drop in the death rate and subsequent demand for granite headstones is causing a decline in the industry. Paul Hutchins, vice president of administration at the company, said the 25 workers are currently on a seasonal layoff because of the winter weather. They were notified of the permanent layoffs on Monday. Union officials say the layoffs were unexpected and said it and company officials will be meeting with the laid-off workers next week to discuss benefits, pensions and other programs.