Investments

The proposed merger of US Airways Group and American Airlines could be bad news for smaller airports as the combo unit gives up gates at major hubs, Moody's says.

Municipal borrowers looking to expedite the process to tap the Transportation Infrastructure Finance and Innovation Act program for project loans should bring a thorough financing package to the table and be flexible in negotiating terms, loan recipients offered up as advice Thursday.

The federal judge overseeing Detroit's bankruptcy case ruled Thursday that the city must reveal the fees it plans to pay to Barclays for a $350 million debtor-in-possession financing, one of the few DIP loans for a municipality in Chapter 9.

During a board meeting Wednesday, the University of California's new president proposed a tuition freeze for the next academic year in order to keep costs affordable.

The total net assets of tax-exempt money market funds declined by $1.32 billion to $263.26 billion in the week ended Nov. 11, as they gave up most of the prior week's gains.

ARKANSAS

ARKANSAS

Investors in municipal bonds are mostly pleased that hedge funds have increased their bets recently in distressed state and local government debt.

Detroit's mayor-elect Mike Duggan introduced the core of his transition team even as he said it remains unclear how much power he will have under the city's state-appointed emergency manager.

More than $5 billion in private activity bond capacity remains available from DOT to fund P3’s that invest in large surface transportation projects.

Detroit emergency manager Kevyn Orr redirected $95 million meant for debt-service payments into a fund for restructuring costs, according to a budget memo obtained by the Detroit City Council.

ARKANSAS

ILLINOIS

Texas A&M University System will price $210 million of top-rated bonds backed by the state's Permanent University Funds in a competitive sale Wednesday.

A state-run board Tuesday approved Gov. Rick Snyder's push to lease Belle Isle, Detroit's biggest park, for up to 30 years, killing an alternative 10-year lease proposed by the Detroit City Council.

American Airlines and US Airways Group Inc. settled an antitrust lawsuit with the U.S. Department of Justice, clearing American's path to exit bankruptcy and repay its municipal bondholders.

The group of motorists who lost their challenge to the Elizabeth River Tunnels public-private partnership in the Virginia Supreme Court are asking the court to rehear the case, as the commonwealth's governor-elect suggests he is interested in working to lower the planned toll rates for the tunnels.

ALABAMA

Moody's Investors Service has revised its outlook on the University of Chicago Medical Center's Aa3 rating to negative over declines in is operating margins over the last two fiscal years.

The question of whether Detroit negotiated in good faith with its creditors, or even could, emerged as a central question in the nine-day trial over whether the city is eligible to enter Chapter 9 bankruptcy.