Economy

LOS ANGELES — Downey Regional Medical Center, a non-profit hospital located in greater Los Angeles, is close to reaching an agreement with Avanti Health Systems LLC that would enable it to exit Chapter 11 bankruptcy and make its bondholders whole.

BRADENTON, Fla. — Fitch Ratings on Friday revised the outlook to negative on three major U.S. airports in the wake of the Chapter 11 filing by American Airlines and its affiliate, American Eagle.

Moody's Investors Service has downgraded the rating of Turnersville-based Kennedy Memorial Hospital University Medical Center to A3 from A2. The outlook remains stable at the lower level, analysts said.

After its Board of Aldermen rejected a proposal for streetcar service, New Haven has resubmitted a plan that would replace its match with regional or state transportation funds.

SAN FRANCISCO — A Washington judge has dismissed a lawsuit that tried to void the state's $519 million bond deal for a floating bridge project.

Staff of the California Health Facilities Financing Authority recommended approving a plan to issue $275 million of bonds on behalf of San Diego-based Scripps Health.

Fitch Ratings assigned a AA-minus rating Wednesday to a planned $355 million bond issuance on behalf of Sacramento-based Sutter Health, which owns, leases and-or operates 31 hospitals.

The California Legislative Analyst's Office said in a report Tuesday that the funding for the first stage of the state's high-speed system is highly uncertain.

BRADENTON, Fla. — The Santa Rosa Bay Bridge Authority's bond trustee, Bank of New York Mellon, has hired a financial advisor to assist with restructuring the Florida authority's defaulted bonds.

CHICAGO — Blaming a bad housing market and the failure to reach an agreement with bondholders, an Ohio senior-living facility that missed its most recent debt-service payments filed for Chapter 11 protection last week.

In a recent report affirming the Birmingham Airport Authority's A-minus rating, Fitch Ratings said that it would be evaluating the potential effects of surrounding Jefferson County's bankruptcy filing.

WASHINGTON — States are facing a "big squeeze" of slow economic growth, the need for increased spending on Medicaid and other programs, the loss of federal funds and requests for help from cash-strapped local governments, two groups said in a report released Tuesday.

CHICAGO — As market participants digested the news of American Airlines' Chapter 11 federal bankruptcy filing Tuesday, airports stressed their ability to withstand any potential impact while tax-exempt investors reached out to bankruptcy attorneys to gauge the strength of their holdings.

LOS ANGELES — Though the San Diego Association of Governments has encountered a few wrinkles during due diligence, the agency is on track in its proposed $345 million purchase of a bankrupt toll road from a private operator.

CHICAGO — Six months after a devastating tornado destroyed its competitor's facility, Freeman Health System in Joplin, Mo., will come to market next week with $25 million of bonds, primarily to fund additional beds needed to meet a surge in demand for its services.

Moody's Investors Service last week affirmed its Baa1 rating on Summa Health System in Ohio.

Moody's Investors Service has downgraded Hospital Sisters Services Inc.'s rating by one notch to A1 due to sizeable operating losses at the Springfield, Ill.-based system.

Amid major redevelopment projects at large airports in Texas, aviation bond issuance there is running at the highest level since 2003, according to data from Thomson Reuters.

The Southern California Logistics Airport Authority is facing a bond default because it cannot make a $10 million debt service payment due Thursday because of the legal uncertainty surrounding California redevelopment agencies.

Arizona’s State Transportation Board has adopted a blueprint outlining the projects needed over the next 25 years to keep pace with the state’s growing population.