Economy

The Washington State Department of Transportation said its mistakes in the design of the new Highway 520 floating bridge will costs tens of millions of dollars and delay construction.

Honolulu Mayor Kirk Caldwell announced a five-year plan Monday to fix and repave 900 miles of road over the next three years.

Fitch Ratings downgraded the underlying ratings on $49 million of Placerville, Calif.'s Marshall Medical Center revenue bonds to junk because of weak finances.

The Chicago Transit Authority has tapped its CFO Karen Walker to lead the agency's public-private partnership efforts and has hired Ronald DeNard from the private sector to fill the CFO spot.

Two Democrats in the Senate who influence transportation policy have introduced legislation to create the American Infrastructure Investment Fund, a $10 billion infrastructure bank.

Moody's Investors Service announced Wednesday that it has changed its outlook for the airport sector to stable from negative, where it had been since August 2008.

The Georgia House has passed a bill that would revamp governance of the Metropolitan Atlanta Rapid Transit Authority, privatize some services, and impose tighter restrictions on the issuance of bonds.

The University of Wisconsin Hospitals and Clinics Authority hits the market Wednesday with a $263 million sale that will nearly double its modest debt levels to help finance a five-year $670 million capital program that includes a new off-campus facility.

Puerto Rico Governor Alejandro García Padilla is going ahead with privatizing Puerto Rico's main airport.

The long-term care credit market has stabilized, writes Jon Barasch of Interactive Data Corp. in this commentary.

The Illinois Finance Authority board advanced a handful of small direct or private placements for an array of not-for-profits.

The sequestration cuts scheduled to take effect March 1 could throw the muni market into uncertainty and slam the air transport sector, according to market groups and public officials.

The long-struggling city of Flint, which has been under emergency management for more than a year, is selling nearly $60 million of speculative-grade bonds on behalf of Hurley Medical Center, a city owned facility that serves as the local safety net provider.

Chicago received 16 responses in its first market outreach to identify prospective bidders in a possible deal to privatize Midway International Airport, according to the city's chief financial officer Lois Scott.

The Virginia General Assembly gave final approval on Saturday to legislation that is projected to raise more than $800 million for transportation over the next five years.

Mayo Clinic will return to the taxable market for the second time in six months as low rates coupled with freedom from tax-exempt compliance issues are proving too good of an incentive to resist.

Standard & Poor's lowered by three notches its long-term rating on bonds issued for Good Samaritan Hospital of Lebanon, Pa., to B-plus from BB-plus.

Virginia is poised to enact a funding bill that raises sales taxes but slashes fuel taxes to create $200 million of new transportation revenue each year that could be used for bonding.

Municipal market participants are encouraged but cautious about President Obama's proposal for a new type of taxable, direct-pay bond called America Fast Forward bonds to finance the nation's infrastructure.

The Ohio Turnpike Commission plans to issue a pair of RFQs for firms interested in acting as underwriter or bond counsel on a $1.5 billion deal featuring a new turnpike credit that still needs to be approved by the Legislature.