Economy

Long-term pressures continue to plague bonds backed by the federal highway trust fund, but investors can offset their risk by investing in debt also secured by other revenue, according to a Wells Fargo analysis released Monday.

The United States not-for-profit sector outlook is stable for 2013, but less favorable than past years, according to Standard & Poor's.

Master trustee UMB Bank told West Penn Allegheny Health System to file an audited financial statement within 30 days to avoid violation of a bond covenant.

Georgia is moving forward with the nearly $1 billion Northwest Corridor Project after changing direction on how to proceed with the project to relieve gridlock in the Atlanta region.

Ohio Gov. John Kasich's proposal to issue $1.5 billion of bonds against future toll revenue from the Ohio Turnpike won't hurt bondholders of existing turnpike debt, though the new bonds may not be as highly rated as the current AA debt, Fitch Ratings said in a report Friday.

Bank of New York Mellon accelerated about $116 million of toll revenue bonds due to ongoing defaults by Florida's Santa Rosa Bay Bridge Authority. The trustee said payment on the bonds is due immediately.

Growing traffic between the United States and its international neighbors is leading to a need for more border road crossings, but a new HNTB white paper stresses the need for careful and conservative revenue studies for near-border toll points.

West Penn Allegheny Health System has 30 days to post its audited financial report for the 2012 fiscal year to avoid default on its $726 million bond issue.

The South Carolina Alliance to Fix Our Roads has begun to lobby for an increase in the state's motor fuel tax to fund more than $50 billion in needed transportation improvements.

Standard & Poor's last week revised its outlook to negative from stable on bonds issued by Louisiana's Jefferson Parish Hospital Service District No. 2 issued on behalf of East Jefferson General Hospital.

Standard & Poor's placed the Puerto Rico Highway and Transportation Authority's bonds on CreditWatch with negative implications.

For the second time in three months, Standard & Poor's upgraded its long-term rating on the Cleveland-Cuyahoga County Port Authority's bond fund program.

Moody's Investors Service downgraded the Bishop International Airport Authority, Mich. to Baa3 from Baa1 citing falling passenger levels and cuts in airline service offerings.

The Indiana Finance Authority finalized its agreement and reached commercial close on a deal with WVB East End Partners to design and build the state's part of the massive bi-state Ohio River Bridges Project.

Chicago has reached a settlement with St. John United Church of Christ that includes a $1.3 million payment for church land that had housed a cemetery moved to make way for a new runway at O'Hare.

The inland Port of San Antonio expects to issue $24 million of bonds after bypassing the debt market in 2012, according to Moody's Investors Service.

Indianapolis will start the new year with a $42 million double-A rated bond deal should put the finishing touch on its massive $754 million public safety net hospital replacement.

A federal ruling will allow the $5.2 billion Honolulu elevated rail transit project to move forward, securing $1.5 billion in federal funding approved on Dec. 20.

Highmark and West Penn Allegheny Health System poached a group of five obstetricians and gynecologists previously affiliated with the University of Pittsburgh Medical Center.

The Massachusetts Bay Transportation Authority is considering an anticrash system for its streetcars, but would have to pay around $700 million and take nine years to implement it.