Economy

Gross savings from the transaction is expected to be $378 million, or about $11 million a year, which would result in around $250 million in net present value debt service savings.

Dennis Reilly will leave the conduit issuer after 26 years to focus on establishing a not-for-profit lending footprint for Fifth Third in Wisconsin.

It's the latest salvo in a growing controversy over the Federal Highway Administration's December memo discouraging states from building new highway capacity.

The market consensus is that interest rates will rise by two to three percentage points over the next three years. What will that mean?

Last week saw the first co-op securitization to finance storm costs, a $908 million deal that could set a national model for utilities.

The two Michigan-based systems completed their merger amid stepped-up federal anti-trust scrutiny but have not yet announced any changes to their existing debt portfolios.

The broker-dealer has added several people to a team that specializes in land-based municipal bond transactions.

Restricting the use of IIJA funds for new highway capacity "flies in the face" of Congressional intent, said Sen. Mitt Romney.

Tax revenue declines and urban sprawl are among the possible unintended consequences of the rise in automated vehicles.

Washington plans to sell the GOs by competitive bid on Feb. 8 to fund various projects.

“The firm was founded on the principle that there should be a high performing investment banking firm wholly owned by women and minorities," says president and CEO Suzanne Shank.

Public-private partnerships can play a big role in U.S. transportation over the next decade, DOT Secretary Pete Buttigieg told governors.

The Municipal Securities Rulemaking Board voted to propose amendments to extend remote inspections until the end of this year, in addition to adjusting its fee model for the 2023 year.

States want "maximum flexibility" when it comes to implementing the $7.5 billion program in the Infrastructure Investment and Jobs Act.

Moody’s also assigned an A1 to the authority's $950 million of forward delivery refunding bonds.

S&P raised the Metropolitan Nashville Airport Authority, Tennessee's senior-lien airport revenue bonds issued for the Nashville International Airport to A-plus.

Cancellations due to fears of omicron are putting a damper on cruise bookings, says Fitch's Emma Griffith, who adds there is still a lot of pent-up demand.

Better communication will be key in future P3s, a top Maryland transportation official said.

The Federal Highway Administration has acknowledged it lacks the authority to tell states how to spend federal infrastructure dollars, AASHTO said.

Schank, who will be a managing principal at the private consultancy, said he accomplished the goals he set when he moved to LA Metro seven years ago.