Speculative grade bonds

A coalition of metropolitan planning organizations and transportation officials along the Interstate-4 corridor approved a resolution supporting further development.

The Water and Power Authority got good financial news from the U.S. Federal Emergency Management Agency but bad financial news from a federal court in Puerto Rico.

The system, trustee and bondholders of about $992 million in debt are supporting an exchange of "substantially all" existing bonds, a disclosure statement said.

The WAPA board of directors says it is looking for a replacement who would start on July 1, when Andrew Smith says he will depart.

The authority's CEO said it has no money for facilty maintenance.

The troubled American Dream mall in New Jersey's Meadowlands benefited from a wider growth in consumer shopping demand.

Assured's controlling vote is "important to investors who were reassured to hear that there would be a large sophisticated party with a significant economic interest in the success of the project," the insurer said.

It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.

The governor should have involved the legislature earlier in decision making on how to give the Water and Power Authority money to make a bond payment, lawmakers said.

The state of emergency will let the governor use the central government's rainy-day fund to provide money to WAPA that semi-autonomous agencies of his government owe the authority. WAPA will use the money to make payments to bondholders and other creditors starting Tuesday.