Economy

Novi, Mich.-based Trinity Health has closed its acquisition of Chicago's Loyola University Health System in a deal that totals more than $1 billion.

Moody's Investors Service raised its rating to Baa1 from Baa2 on $137 million of bonds issued on behalf of the Altru Health System by the city of Grand Forks. The outlook is stable.

The Illinois Health Facilities and Services Review Board last week denied applications from two competing hospital systems seeking to build new facilities in the growing region north of Chicago in McHenry County.

Moody's Investors Service last week downgraded Northwest Community Hospital's rating one notch to A1 due to its weakened financial performance.

CHICAGO — Cleveland has sued the Cleveland Clinic over its decision to close a hospital on the city's east side, arguing in part that the prestigious clinic's acceptance of tax-exempt funding from the state requires it to provide equitable services to the city.

Little Rock lawyer Sheffield Nelson has filed a revision with the secretary of state’s office to his proposal that would amend the Arkansas constitution and increase the state severance tax on natural gas to help fund maintenance of city, county and state roads.

BRADENTON, Fla. - Santa Rosa Bay Bridge Authority bondholders did not get paid July 1, according to the Florida agency's trustee, Bank of New York Mellon.

SAN FRANCISCO — Washington plans to reimpose tolls on the busy Seattle-area State Route 520 floating bridge to back almost $2 billion of bonds that will be issued to finance its replacement.

The board of New York's Metropolitan Transportation Authority on Wednesday authorized, without debate, the negotiated sale of up to $500 million of tax-exempt Series 2011A transportation revenue bonds.

BRADENTON, Fla. - A last-ditch effort to prevent the Santa Rosa Bay Bridge Authority in northwest Florida from a bond payment default has failed and the remaining member of the board plans to resign next week.

Louisiana will set up a 10-member task force and a five-member advisory council to study a proposal to remove the tolls from two bridges over the Mississippi River in downtown New Orleans.

DALLAS — The Oklahoma Supreme Court declined Monday to hear arguments in a lawsuit contending that the use of $101.7 million of highway tax revenues to balance the state’s fiscal 2012 budget was unconstitutional.

St. Louis saw strong demand among institutional buyers for its $30 million refunding last week of Lambert-St. Louis International Airport revenue bonds and achieved 4.6% in net present-value savings, city Comptroller Darlene Green said.

Gov. Mitch Daniels Wednesday will tour three Indiana cities to mark the five-year anniversary of Major Moves, the largest infrastructure program in the state's history, which was financed in part with the $3.8 billion Indiana Toll Road lease.

The newly merged Central DuPage Health-Delnor Health System last week announced the appointment of Brett Tande to be its vice president and treasurer. He left the private sector where he was a health care banker to join the new system this past spring.

DALLAS — With a $1 billion renovation of George Bush Intercontinental Airport in the works, the Houston Airport System will seek interest-rate savings in a $424 million refunding deal expected to price in mid-July.

SAN FRANCISCO — San Francisco International Airport will sell $323 million of debt this week to refund outstanding revenue bonds in a revival of a deal it had shelved last year.

Wichita's Mid-Continent Airport will see $200 million of new facilities under a facilities proposal approved last week after a nine-month hiatus.

An end to truckers' support for an ­increase in Arkansas' diesel tax to support $1.1 billion of road bonds could mean a tax increase for trucking companies.

Puerto Rico will issue its first new-money general obligation bond sale in nearly three years, a $304 million offering that will help finance transportation infrastructure upgrades.