Economy

A New Jersey proposal to allow its Transportation Trust Fund to sell bonds directly to its underfunded pension system would worsen credit conditions, according to Municipal Market Analytics.

The MBTA's oversight board approved up to $277 million for 120 additional subway cars for its beleaguered Red Line in Greater Boston.

New York MTA intends to sell $1.3 billion of bonds in January including a $100 million remarketing, said finance manager Patrick McCoy.

MultiCare Health System, a not-for-profit health system based in Tacoma, Wash., has reached a deal to purchase the for-profit Rockwood Health System for $425 million and will finance a large portion of it with bonds.

A new $7.3 billion 2017 spending plan by the Port Authority of New York and New Jersey maintains debt service levels while also investing in major capital projects.

Facing pressure from Gov. Andrew Cuomo, officials from New York’s Metropolitan Transportation Authority are targeting an opening of the long-delayed Second Avenue subway line by the end of the month.

New Jersey lawmakers are pitching a proposal to allow the state’s Transportation Trust Fund to sell bonds directly to its $73 billion pension system.

A Michigan infrastructure trade group has launched a campaign to help residents and lawmakers understand the scale of state underfunding for roads and transportation.

The Honolulu agency that oversees Oahu’s troubled multi-billion dollar elevated rail transit system gets a reprieve from a federal agency on its plans to fill a shortfall up to $2.3 billion.

Akron, Ohio-based Summa Health plans to price a $345 million deal this week that includes a refunding, conversion of variable rate debt to fixed rate, and new money to partially fund the health system’s expansion.

Federal civil rights investigation will delay Colorado’s proposed $1.7 billion P3 highway expansion project.

MetroHealth in Cuyahoga County, Ohio is eyeing more than $1 billion of borrowing to finance a plan to transform its current campus.

A Michigan House committee will resume hearings on a plan to limit retirement healthcare benefits for municipal workers in the New Year.

More federal transportation funding is needed to eliminate constraints caused by inadequate national freight network, officials warned.

U.S. Bank N.A., the trustee for Oconee Regional Medical Center, notified bondholders Tuesday that the Georgia hospital defaulted on its Dec. 1 principal bond payment. It is the second default this year.

Michigan needs to spend an extra $4 billion annually to create 21st century transportation, water, wastewater, and communications infrastructure systems, according to a commission formed by Gov. Rick Snyder.

Political risks are the darkest cloud dimming the transportation sector’s stable outlook for 2017, Fitch said.

Chicago wrapped up its second billion-dollar airport deal within a month at a price that displays how much the market has changed in that short time.

Voters’ approval of the Los Angeles Metropolitan Transportation Authority’s latest sales tax measure has spurred interest from private industry in partnering with the transit authority.

Industry experts see federal transportation policy shifting toward more private investments in public projects.