Economy

Illinois' and Indiana's plan for a proposed $1.25 billion Illiana Expressway faces a new obstacle in a stinging report that warns of the greenfield P3 toll project's financial risk to Illinois.

Moody's Investors Service revised its outlook on Illinois-based Presence Health’s issuer credit rating of Baa1 to negative from stable.

Fitch Ratings upgraded St. Peter's Health Partners to A-minus from BBB-plus.

All three rating agencies affirmed Chicago O’Hare International Airport's general revenue credit ahead of a new-money and refunding sale for up to $900 million slated for Wednesday.

Synthetic fixed-rate debt exposure is less than 10% of overall debt at New York’s Metropolitan Transportation Authority, finance manager Patrick McCoy said.

New York's MTA should use some of its unexpected $1.9 billion in revenue to mitigate fare and toll increases, said state Comptroller Thomas DiNapoli.

But capital funding, and fare and toll hikes remain areas of concern

Chicago paid $3.5 million in fees and expenses to lawyers and other advisors on its aborted plan to privatize Midway International Airport, according to the city's Chief Financial Officer Lois Scott. She called the spending well worth it.

The Army Corps of Engineers approved Massachusetts' preferred route for the South Coast commuter rail project, for which funding is still a challenge.

Florida is preparing to sell $390 million of revenue bonds for seaport and transportation projects after getting the OK from top elected officials Sept. 24.

Chicago plans to sell up to $900 million of O'Hare International Airport general airport revenue bonds to raise new money for projects and refund older debt for savings.

West Virginia's Blue Ribbon Commission on Highways recommended a $1 billion bond program to address a deficit in funds needed for transportation projects.

Moody's Investors Service on Friday placed Illinois-based Proctor Hospital's speculative-grade B2 rating on review for upgrade due to its signing of an affiliation agreement with the stronger and larger Methodist Health Services Corp.

The Southern California Logistics Airport Authority in Victorville notified bondholders that it defaulted on its bonds on June 4, 2013 by missing a $1.2 million payment.

Fitch Ratings Agency placed the Foothill/Eastern Transportation Corridor Agency on Rating Watch Negative, affecting $2.3 billion in debt.

American Airlines proposed merger with US Airways Group stands to impact all airports but several US Airways large hubs are most at risk for change, Wells Fargo Securities LLC says.

New York’s Metropolitan Transportation Authority Board increased the number and percentage of minority- and women-owned firms that will participate in MTA bond deals.

Georgia has chosen a team of Atlanta and Florida contractors to build the $840 million Northwest Corridor project to relieve severe congestion in the Atlanta region.

Moody's Investors Service downgraded MaineGeneral Medical Center to the speculative grade Ba1 from the investment grade Baa3.

Work resumed on Honolulu’s $5.3 billion elevated rail project Monday after the City Council grated the transit authroity two permits required to resume rail construction.