Economy

CHICAGO — The Illinois Finance Authority board this week advanced deals to help fund projects for the University of Chicago Medical Center and DePaul University and announced the successful pooling of federal recovery zone facility bond allocations from at least 15 cities and counties for Navistar International Corp.

The Pittsburgh City Council is poised next week to reject a $451.6 million offer for its parking system that would, if completed, raise revenue needed to ward off a state takeover of the city’s pension system, which is only 30% funded.

The Port Authority of New York and New Jersey plans to sell $850 million of traditional taxable bonds next week to finance construction at the World Trade Center site.

CHICAGO — Moody’s Investors Service downgraded more nonprofit health care providers than it upgraded during the third quarter, a trend it expects to continue through 2011, the agency said in a new report.

WASHINGTON — The top Republican on the House Transportation and Infrastructure Committee is opposing a recent Obama administration plan to invest in transportation, warning it is a year late and unacceptable because it would be paid for by ending tax loopholes for oil companies.

Fitch Ratings affirmed the BB-plus rating on Mount Sinai Medical Center of Greater Miami and revised the outlook to positive last week.

The North Carolina Turnpike Authority will price $275 million of debt Thursday, including $250 million of Build America Bonds, for the Monroe Connector System in a transaction that illustrates how some issuers are jockeying for pricing position ahead of the BAB program’s scheduled expiration.

CHICAGO — The St. Louis Metro will complete a ­refunding Wednesday of its $150 million floating-rate revenue bond issue from 2005, using a ­structure that provides a short-term salve for its fiscal challenges while the transit agency awaits a bump in sales tax dollars from a voter-approved increase.

The New York City Health and Hospitals Corp. plans next week to market its first new-money bonds in seven years. The corporation plans to sell up to $225 million of taxable Build America Bonds and up to $500 million of tax-exempt refunding bonds Tuesday, following a one-day retail order period Monday.

CHICAGO — Novi, Mich.-based Trinity Health Credit Group, one of the country’s largest health care systems, enters the market Wednesday with $276 million of debt.

Transportation stakeholders are divided this week on a renewed push by President Obama for Congress to provide $50 billion of funding and the release of a report by the Treasury Department and Council of Economic Advisers that stresses the economic risk of not spending more on infrastructure.

Fitch Ratings dropped a Lee’s Summit Industrial Development Authority issue for John Knox Village to BBB-minus — the last rung of investment-grade — due to ongoing fiscal strains.

Central DuPage Health and Delnor Health System have reached a memorandum of understanding that is expected to lead to a merger that will yield one system serving Chicago’s western suburbs.

Illinois Gov. Pat Quinn last week announced the formation of an advisory council to help with the planning and building of the Elgin-O’Hare West Bypass to expand access to O’Hare International Airport.

CHICAGO — Chicago enters the market this week with $251 million of second-lien Midway International Airport bonds to refund outstanding commercial paper and wrap up financing for a new consolidated rental car facility.

The New Jersey Transportation Trust Fund Authority plans to market $1.4 billion of bonds this week to finance various capital projects.

The Oklahoma Hospital Association came out last week in opposition to a proposed Oklahoma amendment that would boost aid to public education because the group said it would reduce the money available for Medicaid funding.

Lower-than-expected construction bids have allowed the Arkansas Highway and Transportation Department to finance 132 projects with the $351 million the state received for road work under the 2009 federal stimulus bill.

After the deluge of supply last week, the municipal market will see a noticeable lull in new-issue activity this week.

DALLAS — A nonprofit corporation responsible for heating and cooling 13 million square feet of space at the Texas ­Medical Center in Houston will issue $52 million of revenue bonds to keep pace with the growing campus.