Economy

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.

Moody's Investors Service Wednesday downgraded to A2 from Aa3 a Washington hospital's limited tax general obligation bonds affecting $223.9 million in debt.

President Obama's proposal for a Build-America-Bonds-like program for infrastructure has its roots in a proposal by the Los Angeles County Metropolitan Transportation Authority, and some infrastructure analysts say it represents a pro-business pivot from the White House.

A new Reason Foundation study analyzing road trends over the past two decades challenges claims of "crumbling infrastructure," which have been used by transportation advocates and policymakers as justification for everything from higher taxes to new or expanded bond programs.

Florida's Santa Rosa Bay Bridge default makes it the largest issuer in default of its municipal bonds this year, according to Bank of America Merrill Lynch.

Texas lawmakers are weighing raising fuel taxes or levying a new sales tax on vehicles and related products.

Fitch Ratings has revised its outlook to negative from stable on the A-minus rating held by Bethesda Health Group due to the balance sheet strains from low occupancy levels and flat revenue growth which heightens concerns over its aggressive debt profile.

The Houston City Council last week approved a lease agreement between William P. Hobby Airport and Southwest Airlines, clearing a path for Southwest's first international flights.

Federal, state and local departments of transportation have so far obligated $7 billion in federal highway funds during fiscal year 2013, a 56% increase over the same period last year, according to a new report from the American Road & Transportation Builders Association.

Managed lanes are the way of the future for transportation finance in Texas, but some experts question how far high-speed tollways can go toward closing highway revenue gaps.

SUNY Downstate Medical Center is planning to close one of its three hospitals in Brooklyn to deal with the center's financial problems.