Economy

Illinois Gov. Pat Quinn signed several pieces of legislation authorizing $1.6 billion in new state borrowing to finance transportation and transit projects and extending an increase in the Regional Transportation Authority of Illinois' working cash notes limits.

The head of the non profit health care group at Standard & Poor's says the full impact of the federal reform law won't be known until after it is implemented in 2014.

The IRS is auditing $245.7 million of hospital revenue bonds issued by The Board of Trustees of the University of Alabama in Birmingham in September 2006.

Two Virginia authorities will price a total of more than $200 million of bonds in separate negotiated deals over the next week. The Virginia Resources Authority will price $81 million of bonds in a pool deal on behalf of 13 local issuers on July 12. In addition, the Commonwealth Transportation Board will sell $125.5 million of grant anticipation revenue bonds less than a week later.

Moody's Investors Service upgraded to A2 from A3 its rating on Blanchard Valley Regional Health Center, located in Findlay, Ohio.

Michigan Gov. Rick Snyder last week signed into law legislation that will set aside a portion of sales tax revenues for the cash-strapped transportation fund.

Moody's Revised its Outlook to Stable from Negative on A1-rated Indianapolis Airport Authority, citing strong financial performance.

The Massachusetts Port Authority, which needs to shuffle gates at Boston's airport to accommodate the United-Continental merger and JetBlue expansion, plans to sell $285 million in new money and refunding.

Up to $140 million of transportation projects may be part of Austin's general obligation bond referendum in November, along with an expected $250 million of capital improvement projects.

A constitutional amendment authorizing up to $1.3 billion of state highway construction bonds will be Issue 1 on the Arkansas Nov. 6 ballot.

California's general obligation bond sales are set to swell to $6 billion this fiscal year due in part to the sale of high-speed rail bonds.

Texas Gov. Rick Perry on Monday said he would reject an estimated $62 billion in federal funding to expand Medicaid in the state, citing states' rights.

The wave of mergers sweeping across the non profit health care sector the past two years is a positive trend for hospitals as well as for investors who like to buy hospital bonds, Fitch Ratings said in a new comment.

In a vote California officials said was key to the future of its ambitious high-speed passenger train project, the state Senate voted Friday to move forward with the line.

A U.S. appeals court will take up a lawsuit as early as October that attacks the financial backing of billions of bonds paying for the Washington Metrorail's Silver Line Extension to Dulles Airport.

Moody's Investors Service has revised the outlook to negative from stable on Deborah Heart and Lung Center's outstanding bonds, issued by New Jersey Health Care Facilities Financing Authority.

For states planning cash flows over the next two years, passage of the federal Highway Bill creates a positive scenario for grant anticipation revenue vehicles known as Garvees, according to ratings analysts.

President Obama will sign the compromise two-year, $105 billion highway bill at a White House ceremony on July 6.

The Loudoun County Board of Supervisors voted 5-4 to go ahead with the county's participation in the second phase of the Washington Metrorail's Silver Line extension, committing the county to an approximately $270 million share of the construction costs of the controversial and largely bond-financed project.

Gov. Andrew Cuomo said the recent passage of the $105 billion highway bill is a boost for the Tappan Zee Bridge replacement project because it includes an increase in funding for the TIFIA program.