Economy

Proctor Hospital’s rating has sunk deeper into junk-bond territory and the Illinois health care provider could still fall further due to its ongoing operating struggles.

CHICAGO — The Regional Transportation Authority of Illinois will sell $300 million of two-year working cash-flow notes Wednesday, rolling over some existing short-term paper while also raising funds to weather the state’s chronically late aid payments.

The Massachusetts House on Wednesday will take up a bill to close most of the $51 million deficit in the Massachusetts Bay Transportation Authority’s budget for the fiscal year beginning July 1.

DALLAS — Houston’s decision to allow Southwest Airlines to open five new international gates at Hobby Airport in competition with United Airlines at Bush Intercontinental Airport is a credit positive for the Houston Airport System, according to Moody’s Investors Service.

New York City’s Department of Transportation on Monday issued a request for statements of qualifications to operate its 81,000 street meters in a private management agreement.

DALLAS — Amid renewed attention to the growing border economy, two major bond issues from the El Paso, Texas, international crossroads region will provide funding for transportation, law enforcement and education.

The Maine Turnpike Authority, operator of a primary travel corridor through southern Maine, is proposing toll increases that would raise $26.5 million to meet its present and long-term financial needs.

BRADENTON, Fla. – The Florida Department of Transportation is preparing to raise tolls to help finance $1.8 billion of road improvement projects.

BRADENTON, Fla. — After the sale of $673 million of bonds to finance most of North Carolina's second toll road — the 19.7-mile Monroe Connector — the project has stalled.

DALLAS — The Houston Airport System expects to begin expansion of Hobby Airport next spring using debt backed by Southwest Airlines as the discount carrier begins offering international flights.

The Santa Rosa Bay Bridge Authority, which oversees the 3.5-mile Garcon Point toll bridge in northwest Florida, has canceled its June 13 meeting.

WASHINGTON — The Metropolitan Washington Airports Authority voted on Wednesday to drop a controversial labor agreement from Phase II procurement for its $6 billion, 23 mile metrorail extension project to the Dulles International Airport.

In a move that is likely to make Virginia the leading state for public-private partnerships, Gov. Robert McDonnell has announced 22 transportation and infrastructure projects that may be developed as P3s.

The Massachusetts Bay Transportation Authority plans a $415.6 million sale of Series 2012A assessment bonds on Thursday, after a one-day retail period.

CHICAGO — Ohio State University on Friday is expected to tap a private investor that has offered $483 million in cash to take over the school’s parking system for 50 years in a deal that would make OSU the first public university to privatize such an asset.

Fitch Ratings has upgraded Olmsted Medical Center’s rating one notch to BBB-plus from BBB in recognition of the Minnesota hospital’s strong financial performance.

Federal transportation officials said they want additional information before committing funds to a proposed light-rail line financed by private investors along one of Detroit's main thoroughfares.

Chicago is challenging $50 million in reimbursement payments sought by the private consortium that leases the city’s parking meter system.

DALLAS — The Fort Bend County Toll Road Authority, which feeds suburban traffic to the Harris County toll system in the Houston area, is advance refunding $119 million of debt while continuing its expansion.

WASHINGTON — Private firms have until July 12 to submit bids to operate the Port of Virginia as part of a public-private partnership, an opportunity created by the Virginia Department of Transportation after it received an unsolicited P3 proposal.