Economy

Fitch Ratings assigned an A-plus rating Monday to a $147.9 million refunding planned by Los Angeles-based Cedars-Sinai Medical Center.

CHICAGO - Almost out of cash to keep operating, an upscale retirement facility in downtown Chicago financed with $229 million of bonds filed for Chapter 11 bankruptcy this week after the failure of negotiations with a group of investors aimed at buying the facility breathing room.

DALLAS - The North Texas Tollway Authority achieved total savings of $10.1 million in a $268.6 million refunding deal that sold out in less than three hours, officials said.

The board overseeing the embattled Orlando-Orange County Expressway Authority on Monday accepted its executive director's resignation and reached an agreement with the Florida state government to build a long-planned beltway.

CHICAGO - The U.S. market for public-private partnerships remains small and fragmented, marred by hurdles like clashing legislation and political controversy, in contrast to Canada and Europe, panelists said at The Bond Buyer's Transportation/P3 Conference here.

DALLAS - The South Louisiana Port Commission will expand cargo-handling capabilities at the Port of South Louisiana with a new pier financed by $8 million of port revenue bonds.

The board of New York's Metropolitan Transportation Authority discussed the proposed four-year budget and capital plan for 2012 to 2014 on Wednesday amid the hovering shadow of labor negotiations.

CHICAGO - Ohio hopes to issue a request for proposals by the end of the year to privatize its highway rest areas, one of several public-private partnerships being eyed by Gov. John Kasich's administration.

CHICAGO - With federal funding and gasoline tax revenue falling far short of meeting demand for transportation infrastructure, sector participants need to do a better job selling the public and political leaders on the perks of investment and the pitfalls of inaction.

CHICAGO - As the market continues to cope with the near-disappearance of bond insurance, one effect is clear: the growing need for issuers to tout their stories to entice investors, panelists at the Bond Buyer's Transportation/P3 conference here said Tuesday.

Ohio State University announced last week that it has selected seven possible partners for the school's plan to become the first public university to privatize its parking system.

Chicago Mayor Rahm Emanuel and Chicago Transit Authority president Forrest Claypool last week unveiled the first of hundreds of new rail cars.

CHICAGO - The Wayne County, Mich., Airport Authority, which runs Detroit Metropolitan Airport, will come to market Thursday with $127 million of refunding bonds.

Texas Sen. Kirk Watson, D-Austin, told a 10-member committee established to lay the groundwork for building a medical school in Austin that it is too early to know how much the proposal will cost.

A constitutional amendment to extend a $575 million Garvee road bond program won by a sizeable majority in all 75 Arkansas counties in last week’s special election.

CHICAGO - Promedica Health System will hold a retail order period Wednesday followed by institutional pricing Thursday for $145 million of refunding bonds.

Fitch Ratings assigned a AA to the Maine Health and Higher Educational Facilities Authority's $37.25 million of Series 2011C revenue bonds, which are expected to sell by negotiation this week.

The North Carolina Turnpike Authority expects to sell $220 million of state appropriation revenue bonds in a two-day sale this week.

When Jackson Laboratory of Bar Harbor, Maine, scuttled plans to establish a research facility in Florida, several other states came banging at the door of the genetics research company. Connecticut won out.

The on-again, off-again plans for an extension to a toll road that serves as an alternative to congested Interstate 5, the only freeway linking Orange County to San Diego County, looks to be back on again.