Transportation industry

The Senate Appropriations Committee on Thursday approved a $51 billion transportation spending measure for fiscal 2015, as a subcommittee chair warned about the pending insolvency of the Highway Trust Fund.

Fitch revised the outlook to negative on Alabama's Birmingham Airport Authority bonds citing erosion in the enplanement base as debt service obligations begin to increase.

Colorado Gov. John Hickenlooper has vetoed a bill that imposed limits on public-private partnerships for transportation projects in the state.

S&P revised its outlook on Rhode Island Turnpike and Bridge Authority revenue bonds to negative from stable while affirming its A-minus rating on the bonds.

Colorado's Regional Transportation District has already broken ground on its new North Rail Line that will be financed with $431 million of debt going to market Thursday.

Recent improvements in airline profits are credit positive for airport bonds and may lead to increased capital investments, Well Fargo says.

Senate Appropriations subcommittee approved legislation that would keep federal highway funding at 2014 levels next year while increasing transit spending by $310 million.

San Francisco Mayor Ed Lee released his spending plan for the next two years, which includes a $500 million general obligation bond, and investing $94 million in affordable housing projects.

House GOP leaders propose cutting Saturday mail deliveries and use the savings to fund highway projects.

Sen. Chris Murphy, D-Conn., will propose a 12 cent per gallon increase in the federal gasoline tax to support highway and transit projects.

The Southern California Logistics Airport Authority is using tax increment distribution revenue to cure most bond defaults, but will default on new payment, according to a document posted on EMMA.

The Federal Transit Administration awarded about $167 million to the Port Authority of New York and New Jersey and $67 million to New Jersey Transit to help both agencies continue rebuilding and replacing after Hurricane Sandy.

P3s are useful financial tools, not magical risk-free solutions, for increased state funding of transportation projects, NASBO says.

The decade-long process leading to the construction of the new $1.26 billion Gerald Desmond Bridge to serve the Port of Long Beach, Calif. is gathering steam.

Mayor Eric Garcetti has nominated Gene Seroka, an executive with APL shipping line, as executive director of the Port of Los Angeles.

More oversight is needed of how the Transportation Department awards TIGER transportation grants, Government Accountability Office says in a new report.

Not long after Citi analysts said they see value in the toll-road sector, the Miami-Dade County Expressway Authority plans to price $340 million of toll-revenue bonds in early June.

Pima County, Ariz., Regional Transportation Authority will issue its second $150 million issue with an upgrade from Standard & Poor's.

Facing financial straits the Regional Transportation District is considering using bus rapid transit instead of a costly rail line to Denver's northwestern suburbs.

Chicago hits the market Thursday with $784 million of new-money and refunding Midway Airport bonds that will nearly wrap up a restructuring aimed at strengthening its debt portfolio.