Economy

Investors who own bonds issued by the bankrupt Connector 2000 Association Inc. toll road have tentatively reached an agreement with the issuer and South Carolina to exchange their outstanding debt for new bonds.

The Metropolitan Transit Authority of Harris County is restructuring its management in the wake of a funding controversy involving light-rail expansion in the Houston area.

New York’s Metropolitan Transportation Authority plans to issue up to $750 million of taxable Build America Bonds next week to fund capital needs in 2011.

BRADENTON, Fla. — Cullman ­Regional Medical Center in Alabama, has had its ratings dropped to below investment grade by Fitch Ratings and Moody’s Investors Service about a year after refinancing all its bonds.

Massachusetts Wednesday will sell its first-ever Commonwealth Transportation Fund bond offering — $576.2 million of taxable debt to repair decrepit bridges.

New Jersey Transit last week hired Patton Boggs LLP to help the agency contest a $271 million repayment demand from the Federal Transit Administration for money it spent on a now-canceled commuter rail tunnel.

Honolulu’s plan to build and finance a 20-mile-long rail transit line is between $678 million and $1.7 billion short of what will be needed to finance construction.

State Senate President pro Tem Darrell Steinberg Tuesday announced the appointment of Ann Rice to the California Health Facilities Financing Authority board.

CHICAGO — The Indianapolis Airport Authority on Tuesday will price a yet-to-be determined amount of refunding bonds to take advantage of the federal alternative-minimum tax holiday.

WASHINGTON — Federal transportation officials Thursday reclaimed $1.195 billion of high-speed and intercity passenger rail grants from Ohio and Wisconsin. The funds will be parceled out to several states, the U.S. Department of Transportation said after warning last month that incoming Republican governors in the two states must use the funds for rail or lose them entirely.

WASHINGTON — The $1.2 trillion continuing resolution the House approved Wednesday to keep federal agencies and programs funded through the end of the fiscal year on Sept. 30 would increase funding for financial regulators and extend transportation and aviation funding as well as nuclear loan guarantees.

WASHINGTON — The Capital Beltway Funding Corporation of Virginia, the issuer for $589 million for the Capital Beltway expansion project, on Monday will sell refunding bonds to convert its debt to tax-exempt bonds not subject to the alternative minimum tax, taking advantage of the stimulus law provision ­before it expires at the end of the year.

Two bipartisan groups are pressing federal lawmakers and the president to get cracking on a solution to the funding crisis troubling the nation's transportation sector. They warned that Congress needs to find a new revenue source instead of leaning on proposals for a national infrastructure bank or increased privatization.

Delaware River Port Authority board members continue to push for a delay of toll and fare increases as its financial advisers warn of potential credit-rating downgrades and fiscal pressures the bistate agency may face if it postpones future revenue enhancements.

Hoping to tap the same investor momentum seen in a recent oversubscribed offering, Atlanta has accelerated plans to market a $505 million refunding for Hartsfield-Jackson International Airport that was expected to sell next year.

The Spartanburg Regional Health System was downgraded last week to A-plus from AA-minus by Fitch Ratings as a new facility has failed to fill beds as anticipated.

Louisiana Gov. Bobby Jindal said last week that he will not use new taxes or fees to balance the fiscal 2012 budget despite a projected revenue shortfall of $1.6 billion.

The nonprofit Atlanta BeltLine Partnership has created an organization called the Atlanta Land Trust Collaborative to protect neighborhoods at risk of displacement as the city's massive BeltLine project proceeds. The ALTC will be led by executive director Anthony Pickett, the partnership announced Monday.

The Port Authority of New York and New Jersey passed a $7.17 billion operating and capital budget Tuesday for calendar year 2011 that keeps operating growth flat while boosting capital spending.

With an upgrade in hand, the University of Missouri System will enter the market Wednesday with up to $265 million of Build America Bonds to fund improvements at various campuses and its health care facilities.