Economy

The U.S. Department of Transportation redirected high-speed rail funds originally intended for Florida on Monday, announcing $2 billion of grants to 15 states and Amtrak for 22 projects.

DALLAS — Louisiana lawmakers will consider a resolution this week to require legislative approval of a plan to issue revenue bonds to finance a proposed new state hospital in New Orleans.

DALLAS — The Texas Department of Transportation would be spared the kind of funding cuts hitting other agencies under a budget bill approved by the state Senate last week.

SAN FRANCISCO — At its inception the South Bay Expressway toll road was promoted as a model public-private partnership. It took ages to build, then quickly plunged into bankruptcy.

BRADENTON, Fla. — Two Virginia issuers that plan to price a combined $806 million of double-A rated tax-exempt bonds early next week should find plenty of investors to snap up the high-grade paper, according to market participants.

Fitch Ratings last Thursday upgraded bonds issued for Greenspring Village Inc., a continuing-care retirement community in Springfield, Va., to A from BBB-plus.

The U.S. Department of Transportation on Monday approved a multi-year, full-funding grant agreement to build the $1.2 billion SunRail project in central Florida.

DALLAS — Fitch Ratings has lowered the outlook on Colorado Springs Airport debt from stable to negative while affirming its A-minus rating.

A majority of the nation’s mayors want the new highway bill coming from Congress to emphasize streets and bridges over highways and to provide financing tools such as Build America Bonds, TIFIA loans or a national infrastructure bank.

CHICAGO — The University of Chicago Medical Center will enter the market with $182 million of debt beginning next week to wrap up its planned borrowing for a new hospital pavilion that will house its complex-care services.

DALLAS — The Louisiana House Appropriations Committee declined Monday to give the go-ahead for construction of a $1.2 billion state hospital in New Orleans until a more complete business plan is developed.

Moody’s Investors Service has affirmed its A2 rating on Kettering Health Network’s $41 million of bonds but revised its outlook to negative from stable, warning that planned debt sales could pressure the system’s balance sheet.

The federal government last week officially agreed to cover half the nearly $1 billion cost for the 11-mile Central Corridor light-rail line that will connect the downtowns of Minneapolis and St. Paul.

Moody’s Investors Service revised its outlook to stable from negative and affirmed its A2 rating on Oakwood Healthcare Inc., a multi-hospital system headquartered in Dearborn.

Standard & Poor’s last week said Illinois’ decision not to renew some of its managed-care contracts with Carle Foundation subsidiary Health Alliance Medical Plans won’t affect the Urbana-based system’s A-plus rating, although the loss of business could pose a credit risk down the road.

The New Jersey Transportation Trust Fund Authority Wednesday will issue $600 million of state appropriation-backed debt after Moody’s Investors Service downgraded such bonds last week to A1 from Aa3.

Utah Lawmakers will return to Salt Lake City this week to consider overriding Gov. Gary Herbert’s veto of a plan to earmark a large portion of new sales-tax revenue to state road projects.

The New Jersey Turnpike Authority will continue to collect its own tolls rather than outsource manual toll collection services to a private company.

CHICAGO — The nation’s largest nonprofit health care provider, Ascension Health, will acquire Alexian Brothers Health System, a union that marks the latest in a consolidation trend as hospital systems seek to bolster their capital positions and navigate the challenges of federal health care reform.

SAN FRANCISCO — The restructuring of $2 billion of San Joaquin Hills toll-road debt appears to have bondholders on board since the alternative is a likely default.