Economy

CHICAGO - Ohio is looking for advisors to help it explore privatization options for the Ohio Turnpike.

Standard & Poor’s last week revised its outlook to positive from stable on Northfield Hospital’s low investment-grade rating of BBB-minus.

Though the Port Authority of New York and New Jersey didn't say so directly in its statement announcing stunningly high fare-hike proposals, the message was clear: the authority is worried about its bond rating.

CHICAGO - With no near-term plans to resurrect his predecessor's proposed lease of Midway Airport to private operators, Chicago Mayor Rahm Emanuel wants to leave the door open to it by asking the Federal Aviation Administration to preserve its approved slot under a pilot program.

Thousands of workers at the Federal Aviation Administration and airport construction projects around the country will be able to return to work this week because of a short-term funding extension.

The Connecticut State Bond Commission approved $3 million of repairs for the Hartford-to-East Hartford railroad bridge. The funding was part of a state infrastructure improvement package aimed at school and transportation projects.

SAN FRANCISCO - In one of the most complicated bankruptcy cases involving municipal debt, Las Vegas Monorail Co. bondholders are battling on multiple fronts to try and ­recover some of their money.

The board of the San Diego Association of Governments voted July 29 to purchase the State Route 125 toll road lease for $345 million, contingent on the agency performing due diligence and after officials hold a public meeting.

Health care and housing remain two of the most risky sectors in the municipal market, with the federal health care bill and the sluggish real estate market contributing to skepticism about the sectors. But muni experts say some distressed debt is safe enough to be a buying opportunity.

WASHINGTON - Virginia is using a public-private partnership to put another tunnel under the Elizabeth River between Norfolk and Portsmouth. Including improvements to existing tunnels and some surface road building, the project is budgeted at $1.9 billion.

Florida Department of Transportation Secretary Ananth Prasad has chosen a toll road industry veteran with more than 20 years of experience to be the executive director of Florida’s Turnpike Enterprise.

The Birmingham City Council Tuesday unanimously approved the issuance of $215 million of revenue bonds on behalf of the University of Alabama Health Services Foundation.

SAN FRANCISCO - Washington has finalized its statewide ballot measures for November and they include a controversial initiative to limit tolls, the secretary of state's office said this week.

DALLAS - With more than $1 billion of road and rail projects in the works, the Dallas suburb of Irving is pressing ahead with the nation’s largest transit-oriented development despite economic challenges.

The Puerto Rico Public-Private Partnership and the Puerto Rico Ports Authority have set Aug. 8 as the due date for responses to a request for qualifications for a privatization of Luis Munoz Marín International Airport in San Juan.

New York’s Metropolitan Transportation Authority priced $400 million of revenue bonds in a transaction led by book-running senior manager Bank of America Merrill Lynch and co-senior Loop Capital Markets.

Massachusetts’ $30.6 billion budget for fiscal 2012, which restored $65 million in local aid and improved the ability of governments to manage health-care costs, is a credit-positive for municipalities, Moody’s Investors Service said.

CHICAGO - With its seven-year-old $6 billion capital program nearing completion, the Illinois State Toll Highway Authority on Thursday unveiled a follow-up $12 billion, 15-year plan that relies on a toll increase to help repay an estimated $4.8 billion of new borrowing.

WASHINGTON - Sen. Ron Wyden has introduced a bill to create tax-credit bonds for transportation projects, hoping the program will navigate the political and economic realities that have challenged previous attempts at federal financing tools for state and local governments.

The San Francisco Municipal Transportation Agency has hired a new head. Edward Reiskin will lead the agency after serving in the top spot at the city’s Department of Public Works.