Economy

A civil engineering group gave Indiana’s infrastructure a grade of D-plus in a report card, warning it needs billions of dollars in improvements. The state’s grade was slightly higher than the nationwide average of D.

The Cook County Board of Commissioners’ earlier this month gave their preliminary approval to a plan to use $90 million in federal recovery zone facility bonds to help support Navistar International Corp.’s expansion plans.

An Illinois appellate court has upheld a DuPage County court ruling allowing Chicago to acquire St. Johannes Cemetery, paving the way for a new runway at O’Hare International Airport as part of an ongoing $8 billion expansion project that is being partly financed with bonds.

DALLAS — With billions of dollars worth of bond-financed projects underway or on the boards, the nation’s airports began adjusting to another competitive shift Monday as Southwest Airlines announced its $1.4 billion stock swap for low-cost competitor AirTran Airways.

The New York Metropolitan Transportation Authority’s finance committee approved a pool of banks Monday that could replace liquidity facilities on $4.6 billion of variable-rate bonds due to expire over the next four years.

SAN FRANCISCO — The Port of Long Beach, Calif., the second-busiest port in the country, could see its rating come under pressure if a local ballot measure passes that would strengthen the hand of the city in its operations.

DALLAS — The Arizona Transportation Board will complete its pricing of $180 million of revenue bonds Tuesday in a deal that will finance construction of highways in Maricopa County, including Phoenix and its suburbs.

WASHINGTON — Virginia Gov. Robert F. McDonnell on Thursday released an audit of the state’s Department of Transportation that showed $1.45 billion could be freed up for projects and that these new funds could possibly accelerate VDOT’s bond issuances, sources said.

CHICAGO — Illinois hospitals pump more than $75.1 billion into the state’s economy annually and provide about $4.9 billion in community benefits, including $500 million in charity care, a new report from the Illinois Hospitals Association asserts.

Congress last week approved a three-month extension of aviation and airport programs that will allow airports to continue to collect the taxes that they use to pay for capital improvements.

CHICAGO — A federal bankruptcy court judge on Tuesday approved Senior Care Development LLC’s $40 million bid to purchase two Chicago area bond-financed continuing care retirement communities although the size of a final payout for bondholders remains unclear.

WASHINGTON — Crumbling infrastructure may inhibit an economic recovery, the U.S. Chamber of Commerce said Thursday in a report that relies on a newly created index that measures transportation performance and ties it to the economy.

The Victor Valley Community Hospital filed for Chapter 11 bankruptcy protection earlier this month.

BRADENTON, Fla. — Atlanta plans to bring $1.34 billion of new and refunding airport revenue bonds to market between November and January in two long-planned transactions.

WASHINGTON — Virginia Gov. Bob McDonnell is pushing for the creation of a state transportation infrastructure bank that would be funded with revenue from the privatization of state-owned liquor stores and provide an array of financing tools for road construction and other projects.

A report on how much debt can be supported by the proposed new state teaching hospital in New Orleans will be released by the first of October.

The Louisville and Southern Indiana Bridges Authority has adopted four strategic objectives to move it closer to developing a finance plan for a $4.1 billion project that would build two new bridges across the Ohio River between Kentucky and Indiana, and reconfigure a major intersection in Louisville known as Spaghetti Junction.

Fitch Ratings last week affirmed St. Louis-based Lutheran Senior Services’ A-minus rating but warned of the possibility of a future downgrade of the system.

Fitch Ratings upgraded to A from A-minus the Bi-State Development Agency of the Missouri-Illinois Metropolitan District’s 2002 and 2007 debt due to its improved financial condition, helped by the passage of a sale-tax rate hike.

Standard & Poor’s this week raised its rating on debt issued by three local governments under a Michigan credit-enhancement program for local transportation bonds.