Infrastructure

SAN FRANCISCO — At its inception the South Bay Expressway toll road was promoted as a model public-private partnership. It took ages to build, then quickly plunged into bankruptcy.

BRADENTON, Fla. — Two Virginia issuers that plan to price a combined $806 million of double-A rated tax-exempt bonds early next week should find plenty of investors to snap up the high-grade paper, according to market participants.

The U.S. Department of Transportation on Monday approved a multi-year, full-funding grant agreement to build the $1.2 billion SunRail project in central Florida.

DALLAS — Fitch Ratings has lowered the outlook on Colorado Springs Airport debt from stable to negative while affirming its A-minus rating.

A majority of the nation’s mayors want the new highway bill coming from Congress to emphasize streets and bridges over highways and to provide financing tools such as Build America Bonds, TIFIA loans or a national infrastructure bank.

The federal government last week officially agreed to cover half the nearly $1 billion cost for the 11-mile Central Corridor light-rail line that will connect the downtowns of Minneapolis and St. Paul.

The New Jersey Transportation Trust Fund Authority Wednesday will issue $600 million of state appropriation-backed debt after Moody’s Investors Service downgraded such bonds last week to A1 from Aa3.

Utah Lawmakers will return to Salt Lake City this week to consider overriding Gov. Gary Herbert’s veto of a plan to earmark a large portion of new sales-tax revenue to state road projects.

The New Jersey Turnpike Authority will continue to collect its own tolls rather than outsource manual toll collection services to a private company.

SAN FRANCISCO — The restructuring of $2 billion of San Joaquin Hills toll-road debt appears to have bondholders on board since the alternative is a likely default.