Economy

Moody's Investors Service has lowered its rating to Baa3 from Baa2 on Anderson Hospital due to its weakened financial performance. The action affects $33.9 million of rated debt sold through the Southwestern Illinois Development Authority.

The Illinois State Toll Highway Authority board has adopted a $609 million budget for 2012 that anticipates $200 million in toll-backed borrowing as the agency embarks on its $12 billion, 15-year capital program to maintain and expand the 286-mile system.

U.S. Bank NA notified the market that it was sued by Fiddler's Creek Community Development District 2 in South Florida.

The Arkansas Department of Highways and Transportation will focus initially on improving traffic flow along Interstate 30 if voters approve $1.3 billion of general obligation bonds for roadwork next year.

The future of Medicaid, which eats up nearly a quarter of states' budgets, will play a key role in governments' fiscal health over the next several years, Standard & Poor's said in a new report on the federal program.

Rhode Island wants to put tolls on a stretch of Interstate 95 near the Connecticut border in a story that resonates beyond the nation's smallest state and its neighbors.

Two lawmakers representing Northeastern states are sponsoring legislation to give the federal government more control over bridge and tunnel tolls, a proposition that has won the backing of commercial truckers and motorist advocacy groups but could also put pressure on some bond issuers.

Having already assigned a negative outlook to Garvees, Fitch Ratings said downgrades could occur for such bonds without a backup pledge of revenues if lawmakers don't approve a longer-term reauthorization of highway and other surface transportation programs by March 31.

Republicans complained about the skyrocketing cost and lack of administrative transparency surrounding the construction of the California high-speed rail project, while Democrats and regulators steadfastly defended the partially bond-financed project as an antidote to gridlock and a way to create jobs.

The Santa Rosa Bay Bridge Authority's new board learned Wednesday night that its defaulted bonds, sold to build the Garcon Point Bridge in north Florida, may be repaid without losses to investors.

The U.S. Department of Transportation awarded $511 million of grants to 46 transportation projects in 33 states and Puerto Rico under a third round of its popular TIGER program.

For the second year in a row, Virginia Gov. Bob McDonnell plans an aggressive strategy to keep the state's transportation projects moving forward at a fast clip.

Dallas Area Rapid Transit has awarded a design-build contract for the final segment in its $1.5 billion Orange Line project that will connect Dallas-Fort Worth International Airport to the DART light-rail network, officials said.

The Illinois Finance Authority board advanced about $600 million of borrowing planned by the University of Chicago, Children's Memorial Hospital, and others before the end of the year and into 2012.

Moody’s Investors Service affirmed Agnesian Health Care’s A3 rating while revising its outlook to positive from stable in recognition of its favorable operating margins.

Moody’s Investors Service affirmed its Baa1 rating on UC Health and revised the outlook to positive from stable, saying that the newly reorganized system has exhibited recent improvements in operations.

Moody’s Investors Service last week downgraded to A2 from A1 its rating on Elkhart General Hospital, affecting $86.6 million of bonds.

Dana Levenson jumped at the chance to be chief financial officer of the Massachusetts Department of Transportation.

The Oklahoma Department of Transportation got the go-ahead last week from the Council of Bond Oversight for a $71 million debt issue to finance four highway projects.

With trading active on much of bankrupt American Airlines' $3.2 billion of special facilities revenue bonds, some market participants are sounding a cautionary tone in assessing their value, as bargain hunters eye the airline's discounted bonds secured by collateral.