Virginia

Virginia Gov. Bob McDonnell unveiled his proposed amendments to Virginia's 2012-2014 budget, an $86 billion two-year plan he said prepares Virginia for the fiscal cliff by increasing cash reserves and flexibility and puts transportation revenue on a firmer footing.

The findings of the State Budget Crisis Task Force show that Virginia is in a stronger fiscal position than other large states, but still must begin making changes to close persistent funding shorfalls.

Standard and Poor’s assigned a BBB-minus rating to a $300 million Transportation Infrastructure Finance and Innovation Act loan for the 95 Express Lanes in Virginia.

The Virginia College Building Authority will sell nearly $400 million of highly-rated bonds in a competitive sale Wednesday, to what commonwealth officers expect will be high demand.

Two Virginia groups representing local governments have joined the opposition to Gov. Bob McDonnell's and the state Department of Transportation's plan to toll Interstate 95.

Virginia Gov. Bob McDonnell blasted the Metropolitan Washington Airports Authority after a new U.S. Department of Transportation report found numerous flaws in its policies and procedures.

Several Virginia municipalities have retained legal counsel to fight Gov. Bob McDonnell's plan to toll Interstate 95, which commonwealth officials have said could help close a $10 billion funding gap over the next 25 years.

Chesapeake, Va.'s triple-B rated toll bridge deal last Wednesday saw investors chasing yield and oversubscribing the $151 million deal by more than 12 times.

Spanish infrastructure investment giant Cintra will be the private partner on a more than $1 billion public-private partnership to develop the Route 460 Corridor project in southeastern Virginia, sources said.

A database charting new college graduate salaries in Virginia could help the credit of public universities by underscoring the value of certain degrees and encouraging efficiency, Moody's Investors Service said Friday.

The U.S. Court of Appeals for the Federal Circuit heard oral arguments Tuesday in the case of Corr V. Metropolitan Washington Airports Authority, a lawsuit that strikes at MWAA's primary mechanism of repaying more than $2 billion of bond debt.

The Virginia Housing Development Authority, among the highest-rated such agencies in the U.S., is set to price $175 million of taxable rental housing bonds on Tuesday.

Local communities in eight states with a stake in the controversial mostly bond-financed Prairie State Energy coal project in Illinois could face fiscal stress due to the higher than projected rates they are paying and future financial risks, a new report from an pro-environmental group warns.

Municipal bond issuance in the Southeast during the first half of this year was up by 57% to $34 billion - nearly the same amount that was lost between 2011 and 2010.

The Metropolitan Washington Airports Authority has opened a public comment period giving Northern Virginia residents the chance to weigh in on the authority's hotly-debated Dulles Toll Road rate increase schedule.

Federal and state officials are seeking to overhaul the leadership of the Metropolitan Washington Airports Authority amid pending legislation that would restructure the board of the bond-issuing authority.

Rep. Frank Wolf, R-Va., announced this week that he has introduced legislation that would hand control of the Metropolitan Washington Airports Authority to Virginia.

These reduced forecasts are likely to impair the ability of Pocahontas 895 to service the bank and Transportation Infrastructure Finance and Innovation Act (TIFIA) loans used to fund the road's development.

Virginia announced Monday that it expects to end fiscal 2012 with a $129.2 million surplus, the third consecutive year the state showed such growth.

Inova Health System hopes to play on its strength as the largest nonprofit heath-care provider in northern Virginia next week when it sells $500 million of double-A rated bonds.