Infrastructure

DALLAS - The Oklahoma Department of Transportation will get back into the debt market next week with a negotiated sale of $98.3 million of grant anticipation notes after delaying the deal for a month.

The Massachusetts Turnpike Authority could vote on potential toll increases this Friday to help offset growing debt service costs as state officials continue to map out legislation that would allow MassPike to be dismantled and folded into two other agencies.

WASHINGTON - The Washington Metropolitan Area Transit Authority officials met with the Federal Reserve late Monday in a last-ditch effort to urge them to step in as guarantor on a leaseback deal the agency entered into with a Belgian bank. The move came just ahead of a U.S. District Court hearing today that will decide whether WMATA should remit a $43 million termination payment to the bank on the deal.

Chicago’s proposed $2.5 billion lease of Midway Airport to private operators is on a glide path to win Federal Aviation Administration approval possibly before the end of the year following a required public hearing on the deal last weekend.

At the request of the Federal Transit Administration, New Jersey officials increased the estimated cost of a new passenger-rail tunnel that will run between Newark and Manhattan to $8.7 billion, a $1.1 billion boost from the project's earlier cost estimate.

New York's Metropolitan Transportation Authority has to close a $1.2 billion deficit in the next fiscal year, MTA officials said at a special finance committee meeting yesterday.

CHICAGO - As General Motors Corp. and Ford Motor Co. reported grim third-quarter earnings Friday, Michigan Gov. Jennifer Granholm warned that the state, just a few weeks into its fiscal year, already could face a deficit reaching up to $600 million.

Fitch Ratings last week changed its outlook on the New Jersey Turnpike Authority to stable from negative, citing recently approved toll increases that will help liquidity and fund needed capital improvements.

Amid continued strong demand and recent firmness that saw some yields decline as much as 12 basis points in spots during new-issue pricing last week, a $750 million revenue offering from the New Jersey Transportation Trust Fund Authority will further test the strength of the market this week.

WASHINGTON - Washington Metropolitan Area Transit Authority officials on Friday made an urgent plea to the Treasury Department to prevent it from having to make a $43 million termination payment on a leaseback deal, just as the Belgian bank demanding the payment was expected to urge a federal court here not to block the payment.