Economy

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.

The Regional Transportation Authority of Illinois will take competitive bids Tuesday on $100 million of general obligation refunding bonds and in a separate transaction will further tap its commercial paper program as it awaits nearly $400 million in overdue state aid payments.

Moody's Investors Service last week downgraded $1.1 billion of Catholic Health East debt to A2 from A1 due to cash-flow margins that fall below similar A-rated health care credits.

New Jersey Gov. Chris Christie Monday is set to sign into law legislation that requires government employees to pay more for pension and health care benefits.

The Las Vegas Monorail has been given court permission to send its bankruptcy-exit plan to creditors for a vote.

CHICAGO - Standard & Poor's revised its outlook to negative from stable on a small Michigan hospital that is facing the possibility of accelerated debt-service payments on its debt, all of which has been either privately placed with a bank or is in the form a bank loan.

The Metropolitan Washington Airports Authority announced Wednesday that it has tapped a new leader after a difficult selection process and during a time of controversy about the second phase of its Metrorail extension project.

DALLAS - Texas Gov. Rick Perry has signed legislation designed to help commuter rail districts raise money across jurisdictional lines for bond-funded projects.

New Orleans Mayor Mitch Landrieu said Monday the state should stick with the current plan to build a $1.2 billion, 424-bed hospital in the city. Construction financing for the University Medical Center includes $407 million of hospital revenue bonds.

Standard & Poor's on Monday revised its rating outlook to negative from stable and affirmed its BBB-plus rating on $5.7 million of Series 2002B bonds issued on behalf of Martin Memorial Medical Center.

New York's Metropolitan Transportation Authority on Wednesday will remarket $347.7 million of dedicated tax fund variable-rate refunding bonds originally sold in 2008.

DALLAS — The Arkansas Trucking Association has withdrawn its support for a proposed increase of the state diesel tax to support $1.1 billion of bonds for interstate highway projects.

The Central Indiana Regional Transportation Authority, a quasi-governmental organization that promotes public transit, said last week that it has launched a petition drive to support local funding options for public transportation.

A consortium led by Goldman, Sachs & Co. will pay a total $1.43 billion to maintain and operate Puerto Rico's busiest toll road for 40 years.

CHICAGO — U.S. Sen. Mark Kirk of Illinois unveiled legislation Monday that would promote public-private partnerships for transportation projects by lifting federal restrictions on tapping private financing for airports, highways, and railroads.

Port of Houston Authority officials said last week construction of a cruise ship terminal in Pasadena cost $108.4 million rather than the previously announced $71 million.

The Erie County Fiscal Stability Authority has agreed to borrow $98 million to help Erie County Medical Center Corp. build a nursing home at its campus on Buffalo’s East Side.

Gov. John Lynch on Wednesday vetoed a bill that would have stripped the New Hampshire Rail Authority of many powers, including the ability to issue bonds.

Northern Berkshire Healthcare Inc., unable to restructure $43 million in secured bond debt, has filed for Chapter 11 bankruptcy protection.

The Quincy Medical Center missed a $380,000 bond payment due May 31, about a month after it said it would seek a buyer.