Economy

BRADENTON, Fla. — A plan to cut $500 million of costs from the $4.1 billion Louisville-Southern Indiana Ohio River Bridges Project has triggered the need for additional federal environmental studies.

Pennsylvania lawmakers are working on legislation that would enable public-private-partnerships to help finance transportation infrastructure needs throughout the state.

SAN FRANCISCO — Los Angeles Mayor Antonio Villaraigosa’s plan to lease city garages to private investors to raise money that would close a year-end budget hole and defease bonds is on the rocks.

The first three highway projects financed through a $10-year, $8.2 billion transportation initiative called T-WORKS are an investment in public infrastructure, Kansas Gov. Sam Brownback said at a news conference last week.

Moody’s Investors Service last week revised its outlook on $650 million of outstanding A3-rated CareGroup Inc. bonds to positive from stable.

The California High-Speed Rail Authority on Wednesday issued a request for expressions of interest, the first of many steps the authority would take if it is able to move forward with plans to spend $5.5 billion to build the first segment of a dedicated, high-speed passenger train line linking San Francisco with the Los Angeles area.

BRADENTON, Fla. — A new study of pension and health care liabilities confronting Florida’s cities and counties found that those annual combined costs made up an average of 8.1% of the spending by the state’s 67 counties and 8.3% of spending by 50 cities.

Moody’s Investors Service downgraded $764 million of Massachusetts Bay Transportation Authority assessment bonds Thursday to Aa1 from Aaa to reflect the credit rating agency’s pool financing methodology.

House Republican leaders are calling for a bill to be introduced next week that would temporarily extend transportation programs, John Mica, R-Fla., chairman of the House Transportation Committee, said at a conference here on Tuesday.

The Connector 2000 Association Inc., a beleaguered Greenville, S.C., toll road operator that a year ago defaulted on $329 million of bonds, needs bondholders to approve a tentative restructuring plan to exit bankruptcy.

WASHINGTON — Officials in the Obama administration on Tuesday announced plans to spend $53 billion over six years to finance the construction of a national high-speed rail and intercity passenger rail network.

ALAMEDA, Calif. — The Seattle City Council Monday ratified agreements designed to smooth the path toward construction of a tunnel to replace the elevated Alaskan Way viaduct along the city’s waterfront.

New Gov. John Kasich said again last week that he is considering leasing the Ohio Turnpike, a move that could bring in $2.4 billion. Of that, the state would have to pay off $600 million of outstanding debt, which would need to be defeased in the event of privatization.

Two of the Chicago area’s biggest health-care providers are considering a merger that would create the largest Catholic hospital system in Illinois.

DALLAS — Analysts say that debt ratings for international toll bridges in Texas are bearing up under the stress of continuing drug violence in Mexico and recent traffic declines due to additional crossing points.

Democratic lawmakers and Amtrak Monday announced a $13.5 billion plan to increase rail service between New Jersey and Manhattan by building two new train tunnels underneath the Hudson River.

A $20 million grant from New York State is expected to repay $15.4 million of outstanding bonds issued for St. Joseph’s Hospital in Elmira to help finance a yet-to-be-completed merger with another hospital.

Legislation that would reduce New Jersey Turnpike Authority tolls prompted a conference call Friday between the agency and Moody’s Investors Service.

ALAMEDA, Calif. — Most holders of $451.5 million of first-tier revenue bonds issued for the Las Vegas Monorail are prepared to accept $111 million up front and release Ambac Assurance Corp. from its exposure to the defaulted bonds, the bond trustee said in a disclosure filing.

WASHINGTON — The Internal Revenue Service is auditing $60 million of hospital revenue bonds that were issued by Lakeland, Fla., in 2002 for Lakeland Regional Health Systems.