Infrastructure

Ohio Gov. John Kasich's proposal to issue $1.5 billion of bonds against future toll revenue from the Ohio Turnpike won't hurt bondholders of existing turnpike debt, though the new bonds may not be as highly rated as the current AA debt, Fitch Ratings said in a report Friday.

Bank of New York Mellon accelerated about $116 million of toll revenue bonds due to ongoing defaults by Florida's Santa Rosa Bay Bridge Authority. The trustee said payment on the bonds is due immediately.

Growing traffic between the United States and its international neighbors is leading to a need for more border road crossings, but a new HNTB white paper stresses the need for careful and conservative revenue studies for near-border toll points.

The South Carolina Alliance to Fix Our Roads has begun to lobby for an increase in the state's motor fuel tax to fund more than $50 billion in needed transportation improvements.

Standard & Poor's placed the Puerto Rico Highway and Transportation Authority's bonds on CreditWatch with negative implications.

For the second time in three months, Standard & Poor's upgraded its long-term rating on the Cleveland-Cuyahoga County Port Authority's bond fund program.

Moody's Investors Service downgraded the Bishop International Airport Authority, Mich. to Baa3 from Baa1 citing falling passenger levels and cuts in airline service offerings.

The Indiana Finance Authority finalized its agreement and reached commercial close on a deal with WVB East End Partners to design and build the state's part of the massive bi-state Ohio River Bridges Project.

Chicago has reached a settlement with St. John United Church of Christ that includes a $1.3 million payment for church land that had housed a cemetery moved to make way for a new runway at O'Hare.

The inland Port of San Antonio expects to issue $24 million of bonds after bypassing the debt market in 2012, according to Moody's Investors Service.