Economy

DALLAS - The Kansas House Transportation Committee has endorsed a bill establishing a new 10-year, $17.7 billion comprehensive statewide transportation program, but a Senate bill raising taxes to support the effort is unlikely to make it out of committee.

Standard & Poor’s has revised AA-plus rated Northwestern Memorial Hospital’s outlook to negative from stable due to a weakened balance sheet ahead of this week’s sale of $455 million of fixed-rate bonds through the Illinois Finance Authority.

The New York Metropolitan Transportation Authority's finance committee yesterday passed a detailed toll and fare increase schedule as already depressed dedicated tax revenue collections weakened further.

The Massachusetts Turnpike Authority yesterday approved delaying a toll increase set for Thursday with the stipulation that the legislature must allocate at least $100 million to MassPike by July 1 or face a toll hike at that time.

The New Jersey Transportation Trust Fund Authority faces rising debt service costs as it moves forward with a $1.6 billion fiscal 2010 capital plan that legislators will now consider.

DALLAS - The Harris County Metropolitan Transit Authority, better known as Metro, will have to seek other funding sources for its expanding Houston-area rail system after learning that federal stimulus funds will not be available.

WASHINGTON - The Metropolitan Washington Airports Authority will bring $400 million of bonds to market in the next two weeks after postponing deals last fall due to the turmoil in the marketplace in the aftermath of the collapse of Lehman Brothers.

The Massachusetts Turnpike Authority today may opt to postpone toll increases that are set to begin Friday and instead use reserve funds to help meet operating costs for the remainder of fiscal 2009, which ends June 30.

The University of Medicine and Dentistry of New Jersey plans to refinance up to $575 million of debt before April 15, in part to avoid accelerated debt payments on a series of outstanding variable-rate bonds.

The Hawaii Superferry ceased services this week after an adverse reading from the state Supreme Court.

CHICAGO — A controversial plan to build a new bridge spanning the busy trade route between Detroit and Canada advanced this week when the Michigan Strategic Fund approved a resolution allowing the issuance of nearly $800 million of private-activity bonds to finance the project.

The Massachusetts House yesterday passed a bill to extend the state’s general obligation pledge to five Massachusetts Turnpike Authority swaps and removed an amendment that would have banned independent state authorities from entering into swap agreements.

DALLAS — The Louisiana State Bond Commission yesterday approved the sale of up to $685 million of gasoline tax bonds as the state tries to negotiate lower swap-termination fees before the bonds go to market.

The North Carolina Medical Care Commission is expected to sell $46 million of fixed-rate revenue bonds for FirstHealth of the Carolinas on Tuesday. The Series 2009A bonds are the first of two tranches that will finance construction costs for a new heart hospital.

The House yesterday approved a six-month extension of Federal Aviation Administration funding under suspension of the rules, which would keep the airport construction grants program and other programs funded through Sept. 30.

CHICAGO - After years of financial problems, Ohio's Forum Health this week filed for Chapter 11 bankruptcy, leaving uncertain how much bondholders would ultimately recover as the system moves through the reorganization process.

Transportation advocates told budget writers in the House yesterday that private capital is available and should be harnessed.

CHICAGO - As nonprofit hospitals begin to release their 2008 audits, preliminary numbers show a weakening across all significant ratios and all rating categories, Moody's Investors Service said in a new report out this week.

The Chicago Transit Authority board late last week approved the appointments of Richard Rodriguez as its new president and Karen Walker as its new treasurer and chief financial officer.

A rescue plan for the cash-strapped Metropolitan Transportation Authority appeared to be headed for derailment yesterday after New York Senate leaders proposed measures intended to address the agency's $1.2 billion operating deficit but not its long-term capital needs. Gov. David Paterson said the Senate's plan was unacceptable.