Economy

CHICAGO - A new independent study on a controversial plan to build a publicly funded bridge in Michigan says proposed bond covenants would protect state taxpayers if toll revenues fall short of expectations, but that interest rate costs could push the price tag past $4 billion.

The Connecticut Health and Educational Facilities Authority plans to sell $260 million of fixed-rate, tax-exempt Series A revenue bonds for Hartford HealthCare Corp. on Thursday, following a one-day retail order period.

Moody’s Investors Service has revised its outlook to positive from stable on the University of Wisconsin Hospitals and Clinics’ A1 rating due to its improved fiscal performance.

Members of the Michigan Legislature’s Senate Economic Development Committee said they would extend a series of hearings on whether to advance a plan to build a $3.8 billion, publicly funded bridge spanning the busy trade route between Detroit and Canada.

Detroit Mayor Dave Bing is expected to hand over management of a high-profile, $528 million light-rail project to the Detroit Economic Growth Corp.

WASHINGTON - Virginia has received conditional approval to put tolls on Interstate 95 under the federal government's Interstate Reconstruction and Rehabilitation Pilot Program.

The Internal Revenue Service has completed an audit of $51.1 million of auction-rate securities the Orange County, Fla., Health Facilities Authority issued in 2005 for an Orlando health care provider without changing the tax-exempt status of the bonds.

BRADENTON, Fla. - The Louisville and Southern Indiana Bridges Authority is asking construction industry professionals and others to help it build the Ohio River Bridges Project faster and less expensively.

DALLAS - Denver International Airport plans to take advantage of historically low interest rates with $425.9 million of refunding bonds as it pursues a major expansion.

President Obama has signed the bill extending Federal Aviation Administration and highway funding.

A member of Puerto Rico's House of Representatives is asking the commonwealth's comptroller’s office to review a $2.4 million contract between the Puerto Rico Public Private Partnerships Authority and law firm Mayer Brown LLP, saying a conflict of interest exists regarding the proposed privatization of Luis Muñoz Marín International Airport.

Massachusetts Attorney General Martha Coakley approved the sale of bankrupt nonprofit Quincy Medical Center to for-profit Steward Health Care System LLC, while imposing many conditions.

Gov. Dannel Malloy has appointed four people to the nascent Connecticut Airport Authority and named Mary Ellen Jones of Glastonbury as the board’s chairwoman.

CHICAGO - A union between St. Louis-based Ascension Health and Arlington Heights, Ill.-based Alexian Brothers Health System advanced Thursday with the announcement that the two had signed a definitive agreement for Alexian's acquisition by the nation's largest nonprofit health care system.

LOS ANGELES - A confirmation hearing on the Las Vegas Monorail's plans to exit bankruptcy that had been slated this week was postponed after bondholders, the insurer, and the issuer all balked.

Federal investigators are auditing a billion dollar expansion project at the Port of Anchorage amid huge cost overruns, published reports say.

CHICAGO - The Illinois Finance Authority board this week approved Novi, Mich.-based Trinity Health Corp.'s issue of up to $600 million tied to its acquisition of Loyola University Health System in suburban Chicago, and advanced a Midwestern disaster area revenue bond issue for Cargill Inc.

WASHINGTON - Transportation industry and government groups have not found a lot to like in President Obama's American Jobs Act, and they are particularly unhappy about the proposed infrastructure bank.

Fairfield, Conn., is targeting an Oct. 31 opening for its third Metro-North Railroad train station after the town passed a $7.5 million bond authorization to cover the costs of the long-delayed Fairfield Metro project marked by cost overruns.

Moody’s Investors Service Tuesday downgraded Mary Washington Healthcare’s rating to Baa1 from A3.