Virginia

Virginia has the environmental clearance to go ahead with a highway project originally earmarked for P3 funding.

Sweet Briar College saw its revenue bonds upgraded four notches, although still within junk territory, because of efforts to keep the 114-year-old Virginia women's institution open.

S&P Global Ratings said it has lowered its general obligation rating on the city of Petersburg, Va. three notches to BB from BBB.

Virginia may take money from budgeted salaries and $378 million from reserves, said Gov. Terry McAuliffe, to tackle a portion of the $1.48 billion budget shortfall projected in fiscal years 2016 to 2018.

Southeast issuers sold $37.63 billion of municipal bonds in the first half of 2016, a decline of 10.9% from the same period last year, even as new money deals increased.

Disappointing public pension investment fund returns released recently by Maryland and Virginia may be representative of a more nationwide trend, pension experts warned.

Petersburg, Va., and Opa-locka, Fla., turned to their respective states for help resolving serious financial problems and both are getting professional help, although no state funding.

Virginia transportation officials plan to select a private partner by fall for the $2 billion I-66 toll lane project.

Federal FASTLANE grants totaling $800 million go to 18 road and rail projects aimed at easing congestion.

Virginia is seeking a $200 million federal grant to help fund its $1.4 billion Atlantic Gateway mobility effort.