Economy

Congressional foot-dragging on federal transportation policy reverberated again at the state level this week, as the Missouri Department of Transportation decided not to put projects out for bids, making March the second consecutive month the state canceled bids due to federal funding uncertainty.

DALLAS — After years of battling opposition to a $1.8 billion toll road proposal on the Trinity River near downtown, ­Dallas is facing another financial challenge to the star-crossed project.

The Chesapeake Regional Medical Center this week was upgraded to A2 from A3 by Moody’s Investors Service based on its consistently strong balance sheet. The action affects $39.4 million of fixed-rate debt issued in 2004.

CHICAGO — The Illinois Finance Authority yesterday advanced more than $800 million of new-money and refunding debt planned by various organizations, including the Art Institute of Chicago, the Alexian Brothers Health System, and Palos Community Hospital.

CHICAGO — Indiana would be allowed to privatize two of the state’s largest proposed infrastructure projects under a measure on its way to Republican Gov. Mitch Daniels’ desk.

Connecticut Gov. M. Jodi Rell yesterday proposed the construction of a new hospital and health care facilities that would use $227 million of state general obligation bonds and other funding sources.

Detroit could break ground on the first phase of a long-planned light-rail project along one of its main thoroughfares by the end of the year, Mayor Dave Bing said last week.

Kansas Gov. Mark Parkinson last week ordered an immediate halt to all new state road maintenance projects as part of his plan to avoid a $106 million revenue shortfall in fiscal 2010.

Allegheny County officials are working on a $2 billion initiative to expand public transportation between downtown Pittsburgh and its Oakland neighborhood — the city’s academic and cultural hub — and to boost mass transit within Oakland itself.

CHICAGO — St. Louis-based Ascension Health on Wednesday launches the first piece of its $1.34 billion new-money and restructuring deal that will raise funds for projects across its network, while also allowing the system to further reduce risk exposure and lower its maximum annual debt service.

ORLANDO, Fla. — Two members of Florida’s congressional delegation Friday said more federal funding is on the way for high-speed rail for the state and other areas of the country.

The South Jersey Transportation Authority wasted thousands of dollars due to mismanagement and lack of oversight, according to an audit released last week by the state’s office of inspector general.

New Jersey Transit last week announced plans to raise rail and bus fares 25% to generate $140 million of new revenue and help plug a $300 million gap.

ORLANDO, Fla. — Florida will need full funding to build a high-speed rail network from Tampa to Orlando, and eventually on to Miami, Nazih Haddad, chief operating officer for the state’s new Florida Rail Enterprise program, said yesterday.

WASHINGTON — The Obama administration will unveil its principles for a new multi-year transportation bill within the next 90 days, Transportation Secretary Ray LaHood told reporters yesterday at a conference here sponsored by the American Association of State Highway and Transportation Officials.

The Massachusetts Department of Transportation plans to refinance by mid-April up to $2.27 billion of debt that helped fund Boston’s Central Artery Project, known as the Big Dig.

The official groundbreaking took place last week in Broward County on the Interstate 595 Express Corridor Project, a nearly $2 billion public-private partnership with I-595 Express LLC, a subsidiary created by ACS Infrastructure Development.

CHICAGO — Faced with aging infrastructure and a pledge to not raise taxes, Indianapolis Mayor Greg Ballard wants to use public-private partnerships to raise new revenue that could fund water and sewer upgrades and other citywide projects.

WASHINGTON — Multiple factors such as the lack of a White House proposal and a public push-back against gas-tax hikes or new mileage fees are working against the passage of a new multiyear transportation bill, market participants warned yesterday at a conference here sponsored by the American Association of State Highway and Transportation Officials.

Fitch Ratings on Monday affirmed the Southeast Missouri Hospital ­Association’s BBB-plus rating while revising its outlook to positive due to the hospital’s improved liquidity position.