Industries

Moody's Investors Service assigned a negative outlook last week to the Greater Cleveland Regional Transit Authority's outstanding limited-tax general obligation debt, saying it faces a number of economic and fiscal challenges, including depleted reserves and a steep decline in its main revenue source.

Moody's Investors Service downgraded the Health Alliance of Greater Cincinnati to A2 from A1 after two hospitals separated from the five-hospital system and two more have said they intend to leave. The outlook remains negative.

A DuPage County Circuit Court judge last week handed over the title of St. Johannes Cemetery to Chicago, advancing the city's effort to clear a path for one of several new runways planned as part of the $8 billion expansion of O'Hare International Airport.

WASHINGTON — The South Carolina-based issuer of $322.5 million of toll road revenue bonds that are in default appears to be preparing to file for bankruptcy, according to a disclosure ­document.

WASHINGTON — A mileage-based revenue system to fund federally assisted transportation projects could be implemented within about five years, the RAND Corp. said in a report released online last week.

SAN FRANCISCO — Voters in two counties north of San Francisco gave overwhelming support in 2008 to a ballot measure taxing themselves to build a new commuter train line.

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.