Transportation industry

Legislation introduced in the Senate Thursday would create a new financing authority that would provide loans and loan guarantees for infrastructure projects.

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.

Los Angeles Department of Airports bonds received a healthy reception as the operator of Los Angeles International Airport hits the halfway mark on a $7.2 billion modernization project.

The Port Authority of New York and New Jersey is advancing a major renovation of LaGuardia Airport that may lead to $1.1 billion in bonds being sold.

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

New York's MTA intends to cut nearly in half the size of its planned fare and toll increases for 2015 and 2017, chief financial officer Robert Foran said.

A lawsuit has halted delivery of $33 million of bonds for San Antonio's VIA Advanced Transportation District that priced Oct. 17.

The Harrisburg City Council OK'd a $270 million parking-asset lease that is one of two lynchpins to the financial recovery plan in Pennsylvania's capital city.

The new mayor of Cincinnati, bond attorney John Cranley, is halting two controversial bond-funded projects, including one for which the city has already sold general obligation bonds.

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.

An FBI fraud investigation of the Grand Junction Regional Airport Authority in western Colorado could have a long-term impact on the airport’s credit, according to Moody's Investors Service.

Moody's Investors Service has downgraded the New York Thruway Authority's senior lien bonds to A2 from A1.

The Port Authority of New York and New Jersey reached a financial closing on a $1.5 billion P3 to replace the Goethals Bridge with a cable stayed design bridge.

The Texas Department of Transportation is again considering tolling the Interstate 35 freeway in Austin and lifting tolls on a troubled tollway skirting the city's eastern edge.

An agreement on funding new and renewed transportation infrastructure could be the basis of a bipartisan budget deal, President Barack Obama said Friday at the Port of New Orleans in south Louisiana.

The Maryland Transit Administration plans to seek bids soon for a private partner willing to provide up to $900 million of funding for a $2.2 billion light-rail line in the northern suburbs of Washington following Gov. Martin O'Malley's and the state Board of Public Works' unanimous approval of the P3 competitive solicitation process.

Recent Bay Area Rapid Transit strikes highlighted credit risks for local governments in that region, according to Fitch Ratings.

The Illinois State Toll Highway Authority plans to borrow $900 million of new money next year to help support its 15-year, $12 billion capital program.