Virginia

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.

Buena Vista, Va., was sued by bond insurer ACA Financial Guarantee Corp., which says the city breached its forbearance agreement and stopped making “moral obligation” payments on bonds issued to construct a golf course.

Virginia’s Commonwealth Transportation Board used objective criteria to develop a six-year, $14.4 billion transportation plan.

Virginia plans to borrow $2.24 billion to finance a wide variety of state and higher education projects, according to a bill signed by Gov. Terry McAuliffe on Friday.

Despite what they say is low unemployment in their states, four governors who spoke on a panel at the Milken Institute Global conference said job creation is their main priority.

Growth in the P3 market has been slow and fragmented so far, but it is positioned for rapid growth, Moody’s Investors Service says.

In the Southeast, pent-up need for capital and low interest rates translated into a five-year high for bond issuance in 2015.

Virginia planners determine that express toll lanes on Interstate 66 is best way to cut travel times.

Wilmington Trust hired Joy Holloway as a corporate trust relationship manager in the global capital markets division and will be based in the company's Richmond, Va., office.

Virginia Gov. Terry McAuliffe proposed a two-year budget for fiscal years 2017 and 2018 that includes a total of $2.84 billion in bond financing.

Virginia Gov. Terry McAuliffe said he will include $2.43 billion of bonds in his budget proposal for fiscal 2017 to finance capital projects.

Virginia Transportation Secretary Aubrey Layne opts for P3 financing of a $2.1 billion system of tolled express lanes.