Economy

The Southern California Logistics Airport Authority is using tax increment distribution revenue to cure most bond defaults, but will default on new payment, according to a document posted on EMMA.

The Federal Transit Administration awarded about $167 million to the Port Authority of New York and New Jersey and $67 million to New Jersey Transit to help both agencies continue rebuilding and replacing after Hurricane Sandy.

Moody's downgraded Wayne Memorial Hospital's issuer rating to Baa1 from A3 due to the North Carolina hospital's "recent weak operating performance and low revenue growth."

P3s are useful financial tools, not magical risk-free solutions, for increased state funding of transportation projects, NASBO says.

King's Daughters Medical Center will pay $40.9 million to settle allegations of federal health care fraud, a penalty that is among the largest of its kind in Kentucky.

The decade-long process leading to the construction of the new $1.26 billion Gerald Desmond Bridge to serve the Port of Long Beach, Calif. is gathering steam.

Mayor Eric Garcetti has nominated Gene Seroka, an executive with APL shipping line, as executive director of the Port of Los Angeles.

More oversight is needed of how the Transportation Department awards TIGER transportation grants, Government Accountability Office says in a new report.

Fitch placed $34.3 million of Bridgeport Hospital bonds on rating watch positive, citing its pending transaction with Yale New Haven Health System.

A New York issuer has applied for relief under the Internal Revenue Service's voluntary closing agreement program so that tax-law violations relating to bonds issued for New York Medical College in 1998 can be settled.

Not long after Citi analysts said they see value in the toll-road sector, the Miami-Dade County Expressway Authority plans to price $340 million of toll-revenue bonds in early June.

Pima County, Ariz., Regional Transportation Authority will issue its second $150 million issue with an upgrade from Standard & Poor's.

Facing financial straits the Regional Transportation District is considering using bus rapid transit instead of a costly rail line to Denver's northwestern suburbs.

Chicago hits the market Thursday with $784 million of new-money and refunding Midway Airport bonds that will nearly wrap up a restructuring aimed at strengthening its debt portfolio.

Houston's Memorial Hermann Health System is preparing to issue more than $290 million of bonds to finance expansion projects.

Travel executives say under-investment in U.S. transportation infrastructure threatens the nation's global standing.

Fitch Ratings revised its outlook to negative from stable on $130 million of Covenant Health System revenue bonds in Massachusetts and New Hampshire.

The Florida Department of Transportation axed a proposal for developers to finance, design, and build the state's first privately operated tolled expressway.

Proposals to keep federal transportation funding at current levels will worsen the existing backlog of transit system deferred maintenance.

Southwest Airlines' newfound freedom to begin serving long-haul destinations from Dallas Love Field Airport in October poses risks for smaller airports left behind, Fitch Ratings warns.