Louisiana

The bonds are to be sold competitively in April.

While the new tax policies should address the state's projected deficit, rating agencies are cautious about the projected revenues and federal spending on Medicaid, which could impact Louisiana.

The state will try to convince the rating agency to lift its debt to AA, to match the rating others have assigned.

Skeptical lawmakers, a new administration in Baton Rouge, and construction change orders all meant repeated delays in commercial close of the P3.

Unless the state government makes changes to taxes or spending, there will be deficits of $587 million to more than $800 million starting in the next fiscal year.

The downgrade affects $2.1 billion in bond debt and extends to its utility debt.

The commission also made changes to planned Louisiana State gas and fuel tax bonds of up to $1 billion

Subsidence has delayed completion of the new Belle Chasse Bridge, a project led by one of the developers of the $2.3 billion Calcasieu Bridge project.

The state plans to price the bonds in early October.

The state bond commission approved Wells Fargo, Bank of America and JPMorgan as part of an underwriting pool Louisiana can hire on debt deals.