Infrastructure

Revenue forecasts are an inexact science, but they are a critical part of the rapidly-expanding network of toll roads. When market participants over-rely on them, the result can be a financial meltdown.

Four transportation projects will be expedited as part of the president's "We Can't Wait" program, the Obama Administration announced this week, including the $3.5 billion Columbia River Crossing linking Vancouver, Wash. and Portland, Ore.

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.

Creditworthiness requirements and a new debt-subordination feature are likely to shield both taxpayers and private activity bond investors under the expanded Transportation Infrastructure Finance and Innovation Act program, according to a new white paper out from infrastructure firm HNTB.

Several Maryland state legislators are pushing for a constitutional amendment allowing the state to put transportation packages and their related bonds on statewide ballots.

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.

The transportation infrastructure funding crisis facing governments at all levels is providing a "silver lining" in finance innovation as state governments are turning increasingly to such new tactics as variable-rate fuel taxes and mileage-based user fees, according to a report released this week by the National Conference of State Legislatures.

Franchise strength, offset by leverage, is the most important component of Fitch airport ratings, according to a new Fitch Ratings report. The study concludes an 8 month review of Fitch's airport portfolio.

U.S. Transportation Secretary Ray LaHood is encouraging states and cities to submit letters of interest for an available $1.7 billion under the Transportation Infrastructure Finance and Innovation Act loan program, which LaHood said could ultimately help leverage $50 billion in transportation investment.

A new Government Accountability Office study examining bus rapid transit concludes that cities with limited funding sources and no major congestion issues may find high-cost features worthwhile only if economic development is a major goal of the bus line.

Amtrak's roughly $7 billion master plan for a complete overhaul of Washington D.C.'s Union Station will likely involve a large collaborative effort mixing public and private funding sources, according to a company spokesman and industry experts.

Moody's Investors Service affirmed the A1 rating for the Metropolitan Utilities District of Omaha, removing it from review for possible downgrade, and assigned a negative outlook.

Sussex County board member Eric Fly voiced his concern over the process and the plan itself, "The whole process is backwards. VDOT isn't going to give the public any time to voice their opinion prior to submitting their final application to the Federal Highway Administration. They clearly know that the public is against the idea and are therefore trying to jam it through before any public comment.

The U.S. Department of Transportation today announced $787 million in grants to 48 states, the District of Columbia and Puerto Rico for 255 projects that will upgrade or replace mass transit infrastructure.

The recently approved Chicago Infrastructure Trust won't replace long-term debt financing, but will allow the city to avoid the controversial act of privatizing public infrastructure, Mayor Rahm Emanuel told guests at a Washington D.C. think tank on Friday.

The importance of passenger facility fees, often used to back bonds, has grown in recent years and is likely to continue playing an expanding role in financing airport capital projects, according to a new Fitch Ratings report.

The outlook for bond-financed transportation infrastructure remains stable, but could possibly see a downturn if the slow economic recovery loses momentum or if banks are downgraded. according to a new mid-year report from Fitch Ratings.

An analysis of rating actions shows that public-private partnerships are highly exposed to the effects of downgrades and negatives outlooks applied to participants in the P3, according to a report from Moody's Investors Service released Thursday.