Economy

The Illinois Finance Authority gave initial approval to a $120 million financing tied to the installation of an automated open payment fare collection system for the Chicago Transit Authority using a unique structure.

A $3 billion bond-funded cancer research program that granted funds to a firm backed by donors to Texas Gov. Rick Perry is under investigation by the state attorney general's office, and the executive director of the program has resigned.

Moody's Investors Service downgraded to A2 from A1 its rating on the Detroit-based Henry Ford Health System.

Chicago's transit system needs a reliable revenue stream that provides at least $2 billion annually over multiple years, a new study warned.

Colorado's Regional Transportation District will have about $896 million in unused debt authorization for its FasTracks transit program after this week's issue of $446.3 million, according to estimates.

The Internal Revenue Service has suggested that some of the revenue bonds issued in 1993 by the New Jersey Health Care Facilities Financing Authority for Deborah Heart and Lung Center may not be tax-exempt because of a "total return swap," and has asked NJHCFFA for more information.

An unexpectedly low bid for building a replacement Tappan Zee bridge in New York reduces financial pressure on the New York Thruway Authority, an analyst says.

Moody’s Investors Service downgraded to Ba2 from Ba1 the long-term bond rating assigned to Good Samaritan Hospital’s 64.5 million of outstanding bonds issued by the Lebanon County Health Facilities Authority.

The Port Authority of New York and New Jersey sold $595 million of consolidated bonds in two competitive offerings on Wednesday.

Joining the bridge and tunnel crowd, Kroll rated about $900 million worth of bonds that New York's Triborough Bridge and Tunnel Authority intends to sell.

Speaking in Washington before a Senate panel, Joseph Lhota, chairman of New York's MTA, urged federal help for his hurricane-battered transit system.

An agitated U.S. Secretary of Transportation reiterated the Obama administration's support for high-speed rail investment, and fought vigorously to defend the controversial and partly bond-funded $68 billion bullet train initiative in California.

Voters approved a measure creating an assessment district in downtown Los Angeles to build a streetcar line at a cost of $125 million.

Florida's Tampa-Hillsborough County Expressway Authority will make its first venture into the bond market as a standalone credit next week with $454.8 million of new and refunding bonds.

Indiana floated a request for interest for firms looking to partner with the state on a new section of Interstate 69, which is the latest in a series of P3 transportation projects the state has undertaken.

The Dormitory Authority of the State of New York's board on Wednesday approved $175 million of new financings for healthcare, higher education, and non-profit institutions.

U.S. Transportation Secretary Ray LaHood may be sticking around at least a bit longer, according to the newly minted chairman of next Congress' House Committee on Transportation and Infrastructure.

A state-owned hospital that Louisiana Gov. Bobby Jindal hoped to lease for $35 million is worth only $20.9 million at best, according to a new appraisal of the New Orleans Adolescent Hospital.

A sale of $200 million of highway revenue bonds by Kansas Department of Transportation will fund the next year of projects in Kansas's 10-year highway program.

Standard & Poor's lowered West Penn Allegheny to CC from B-minus in the beleaguered health system's third downgrade from a major rating agency in two months.