Economy

BRADENTON, Fla. — The Owensboro Medical Health System in Kentucky this week is expected to price $545 million of fixed-rate revenue and refunding bonds as part of a finance plan to build a new hospital and terminate two swaps.

CHICAGO — The Chicago Transit Authority board this week signed off on the agency’s planned sale of $550 million of sales tax-backed, mostly taxable Build America Bonds to finance the acquisition of new rail cars.

CHICAGO — A central Indiana task force yesterday unveiled a nearly $10 billion regional transportation plan that recommends imposing a local sales tax and building express toll lanes to help keep Indianapolis competitive in the Midwest.

CHICAGO — The Illinois Finance Authority this week advanced plans for $750 million of health care borrowing planned by Alexian Brothers Health System, the University of Chicago Medical Center, Palos Community Hospital, and a continuing-care community.

DALLAS — Arguments got under way Wednesday in a New Orleans federal district court in an effort by historic preservationists to derail construction of a bond-financed state hospital in the city.

The North Carolina Baptist Hospital is expected to price $330 million of revenue refunding bonds on Wednesday to redeem all its outstanding bonds.

The Georgia State Transportation Board last Friday voted 9 to 2 to rescind a prior decision that would have changed the way the Georgia Department of Transportation conducts its accounting practice, a spokeswoman said.

CHICAGO — Fitch Ratings and Moody’s Investors Service are maintaining their negative outlooks on the nonprofit health care sector, warning that the industry faces a slew of pressures ranging from risks associated with variable-rate debt to the uncertainty of national health care reform and the likelihood of state and federal reimbursement cuts over the next 12 to 18 months.

Moody’s Investors Service issued a report this week warning that it remains pessimistic about airports and is keeping a negative outlook based on expectations for the next 12 to 18 months.

Over the past three years, 38 of Michigan’s counties have returned their roads to gravel because they lacked the money needed to maintain their paved infrastructure — and this year nearly half of the state’s counties will be faced with making the same decision, the County Road Association of Michigan warned last week.

Two rating agencies have revised Provena Health’s outlook to stable from negative ahead of its $126 million debt restructuring that took place on Monday.

New York Gov. David Paterson wants to increase the level of taxation on New York City businesses to support the Metropolitan Transportation Authority, the according to a press release yesterday.

The University of Pittsburgh Medical Center next week will issue $720 million of tax-exempt revenue bonds, part of the health care provider’s $1.1 billion debt refinancing plan.

WASHINGTON — South Carolina lawmakers last Wednesday voted against legislation that would have paved the way for restructuring more than $200 million of tax-exempt bonds issued by the Southern Connector 2000 Association for a 16-mile toll road in Greenville, which went into default on Jan. 1.

ARLINGTON, Va. — The Federal Railroad Administration is currently evaluating options states could use to build high-speed rail, including ways to encourage multi-state projects, deputy administrator Karen Rae said in an interview yesterday.

Policymakers should allocate 25% of all federal transportation funding to competitive programs across all modes of travel as they consider overhauling federal laws, according to a recent report by the nonprofit Bipartisan Policy Center’s National Transportation Policy Project.

WASHINGTON — Senate Democrats yesterday said they plan on Monday to take up the first of a series of jobs bills, which will include expansion of the Build America Bonds and TIGER grant programs, an extension of the transportation law, and transportation and water infrastructure funding.

SAN FRANCISCO — Despite this week’s downgrade of the rail corridor that connects them to the nation, the ports of Long Beach and Los Angeles are beginning to show signs of growth again, adding to evidence that the Great Recession is easing, analysts, economist and port officials say.

BRADENTON, Fla. — The new bi-state authority created by Kentucky and Indiana to develop a $4.1 billion finance plan to build new bridges over the Ohio River met for the first time Tuesday in an organizational session.

Moody’s Investors Service yesterday downgraded the New York Metropolitan Transportation Authority’s revenue bonds to A3 with stable outlook from A2 with negative outlook.