Infrastructure

CHICAGO — Traffic between Michigan and Canada may not be sufficient in the short term to justify construction of a new $3.5 billion trade bridge between the two countries, but that will likely change over the long term, Fitch Ratings said in a commentary released this week.

The popular federal TIGER grant program for major transportation projects would be axed if Republicans get their way.

Michigan and Canadian officials Friday announced an agreement to build a new $4 billion, largely bond-financed trade bridge that has Canada taking on nearly all of the financial risk for the massive project.

The California Department of Transportation and the San Francisco County Transportation Authority closed Thursday on financing for the $1.1 billion Presidio Parkway Public-Private Partnership.

Alaska Railroad’s bonds appear to be safe despite uncertainty surrounding federal grants that back them, according to reports.

WASHINGTON — The push for Congress to pass long-term highway funding legislation is reaching a fever pitch two weeks before the current law expires, as Sen. Barbara Boxer led a rally Wednesday urging approval of her two-year transportation bill in time to avoid another extension.

The Louisiana Department of Highways and Economic Development will produce a report by the end of 2012 on whether tolls can help finance construction of the final 136 miles of Interstate Highway 49 from Lafayette to New Orleans.

The Georgia Department of Transportation last week issued a request for qualifications for firms interested in designing, building and partially financing the nearly 30-mile, $1 billion Northwest Corridor project along Interstate 75 and 575 in Cobb and Cherokee counties.

States' fiscal conditions are improving and, despite ongoing uncertainties, many of them can be expected to maintain good credit ratings and to try to lock in low interest rates with additional bond financings, officials of two groups said Tuesday.

CHICAGO — The Regional Transportation Authority of Illinois will sell $300 million of two-year working cash-flow notes Wednesday, rolling over some existing short-term paper while also raising funds to weather the state’s chronically late aid payments.