Transportation industry

Virginia lawmakers likely will reverse a plan to kill a $50 million transfer to the state's transportation fund that imperiled a proposed $100 million road bond issue.

New York's MTA unveiled the new Fulton Center complex in lower Manhattan. The $1.4 billion project was conceived after Sept. 11.

Arkansas' $206.5 million federal highway grant anticipation and tax revenue bonds with final maturities of 2026 drew a true interest cost of 2.0858% in a competitive sale won by Citigroup.

California local streets and roads will continue to deteriorate unless additional funding can be found, according to recent statewide condition report.

Debate resonates in New York City's Queens borough over how to best use a 3-1/2 mile abandoned rail corridor.

The San Francisco Metropolitan Transportation Agency's revenue bond rating has been upgraded to Aa2 from Aa3 based on positive financial operations.

Fate of Maryland's $2.45 billion Purple Line light rail P3 is in the hands of Gov.-Elect Larry Hogan, an avowed foe of transit projects.

The North Texas Tollway Authority's $461 million of refunding bonds were ten times oversubscribed in a Nov. 5 pricing, bringing the toll road operator savings of nearly 11%.

Transportation proposals were popular with voters during Tuesday's election, with few defeats amid several big-ticket initiatives that passed by wide margins in Texas, California, Maryland, and Wisconsin.

The crash of Virgin Galactic's Spaceship Two is a setback for New Mexico's publicly financed SpacePort America, which is to be the location for commercial space flights, but the bonds issued to build the facility remain a safe investment, an official said.

Tennessee has deferred $400 million of highway projects until 2016 because of concerns the Highway Trust Fund will be insolvent again in May.

Passage of a long-stalled transportation infrastructure package that would raise $1.2 billion in new revenue will be Michigan Gov. Rick Snyder's top priority during the upcoming lame-duck legislation session, the state's budget director said.

More than $10 billion of water and transportation infrastructure proposals are on Tuesday's state and local ballots.

Spokane, Wash.'s airport has been downgraded to A2 from A2 by Moody's Investors Service.

With the economy riding high, issuers in Texas are hoping voters keep their pocketbooks open long enough to approve more than $6.5 billion of bond issues on the ballot Nov. 4.

Puerto Rico officials said Thursday that the Puerto Rico Electric Power Authority would default on its bonds but that the Puerto Rico Highways and Transportation Authority would not.

North Texas Tollway Authority returns to the market with $499.5 million of revenue refunding bonds that are expected to provide significant savings.

A new guide from AASHTO examines current revenue sources and potential options for bolstering the Highway Trust Fund, including fees based on vehicle miles traveled.

Puerto Rico plans to help its Highways and Transportation Authority through an oil tax increase and the sale of bonds from a new authority.

Federal TIFIA loans and similar programs will become more prevalent as conventional highway grants shrink, according to Fitch Ratings, which says TIFIA loans have pluses and minuses for borrowers and other investors.