Economy

West Penn Allegheny Health System revealed that the Securities and Exchange Commission may sue it over accounting discrepancies.

Spending on transportation infrastructure construction is likely to grow a modest 3% next year to a total of $130.3 billion, according to the American Road and Transportation Builders Association's annual forecast.

The ability to fast-track stalled projects as well as create jobs is making the design-build-finance model attractive to states, panelists said at The Bond Buyer's annual transportation and P3 conference.

In the week's largest deal, the New Jersey Transportation Trust Fund will sell $1.2 billion of bonds to finance various transportation projects in the state.

Panelists at the Bond Buyer's annual transportation and P3 conference said the newly expanded TIFIA program, combined with private activity bonds and yield-hungry investors are powerful tools for governments embarking on public-private transportation projects.

Los Angeles World Airports' success in managing a multi-billion dollar expansion project is likely to be parlayed into a receptive environment for its $269 million bond pricing next Wednesday.

Moody's has assigned an issuer credit rating of Baa1 to Presence Health, the new health care system created by the merger late last year of Resurrection Health Care and Provena Health.

The federal bankruptcy court in Chicago has signed off on a suburban Chicago retirement community's reorganization plan that relies on a $90 million bond issue to restructure its $116 million 2006 issue.

Federal cuts to physician reimbursement in the Medicare program would have a negative effect on U.S. nonprofit hospitals, Fitch Ratings says.

Battered by Hurricane Sandy, New York's Metropolitan Transportation Authority may be on the hook for an estimated $950 million, even after reimbursements.

Miami sells $50 million of revenue bonds next week to qualified investors to refinance a loan used to pay a portion of building underwater tunnels to the Port of Miami.

President Obama should seek federally-subsidized infrastructure bonds, a national infrastructure bank, and standardization of state tolling authority to help accomplish his infrastructure investment goals, the Center for American Progress said in a new report.

Standard and Poor’s assigned a BBB-minus rating to a $300 million Transportation Infrastructure Finance and Innovation Act loan for the 95 Express Lanes in Virginia.

Including more poor residents in Louisiana’s Medicaid health-care program would cost the state almost $4 billion over 10 years, the head of the state health department said.

Kentucky has chosen Walsh Construction Co. to build the so-called “downtown crossing,” Kentucky’s share of the massive Ohio River Bridges Project.

Georgia Gov. Nathan Deal will seek an additional $50 million in funding for the Savannah Harbor Expansion Project

Missouri's Mercy Health saw strong retail and institutional interest on its $250 million new-money issue for capital projects -- including the replacement of its Joplin hospital destroyed by a May 2011 tornado.

Michigan senators Tuesday approved a bill that is part of a larger legislative package to create a bond-issuing regional transit system for the Detroit metro area.

The Ohio Department of Transportation last week issued a request for qualifications from firms interested in partnering on the state’s first public-private partnership project, a $332 million bridge in downtown Cleveland.

Michigan Gov. Rick Snyder last week said the state has still not made a final decision about whether to create its own health insurance exchange or let the federal government run one as part of the new federal health care law.