Transportation industry

Standard & Poor's placed the Puerto Rico Highway and Transportation Authority's bonds on CreditWatch with negative implications.

For the second time in three months, Standard & Poor's upgraded its long-term rating on the Cleveland-Cuyahoga County Port Authority's bond fund program.

Moody's Investors Service downgraded the Bishop International Airport Authority, Mich. to Baa3 from Baa1 citing falling passenger levels and cuts in airline service offerings.

The Indiana Finance Authority finalized its agreement and reached commercial close on a deal with WVB East End Partners to design and build the state's part of the massive bi-state Ohio River Bridges Project.

Chicago has reached a settlement with St. John United Church of Christ that includes a $1.3 million payment for church land that had housed a cemetery moved to make way for a new runway at O'Hare.

The inland Port of San Antonio expects to issue $24 million of bonds after bypassing the debt market in 2012, according to Moody's Investors Service.

A federal ruling will allow the $5.2 billion Honolulu elevated rail transit project to move forward, securing $1.5 billion in federal funding approved on Dec. 20.

The Massachusetts Bay Transportation Authority is considering an anticrash system for its streetcars, but would have to pay around $700 million and take nine years to implement it.

The Illinois State Toll Authority board has approved a $1.5 billion budget for the coming year along with $1 billion in toll-backed bonds in the agency's first borrowing to support its 15-year $12 billion capital program.

With expansion of an international toll bridge in Eagle Pass, Texas, expected to begin in April, Moody's Investors Service affirmed its Baa1 rating on the system's senior lien revenue bonds.

Aviation in North Carolina contributes about $26 billion to the state's economy, or 6% of the state's gross domestic product, according to a study.

The transportation sector will spend next year looking for opportunities to achieve limited legislative goals, while hoping to stay out of the way of lawmakers who may have to slash funds in ongoing efforts to deal with the debt crisis.

Kansas City, Mo., plans to launch construction of a streetcar system next year using a bond financing plan designed to protect the city's general budget from project shortfalls.

Michigan Gov. Rick Snyder last week signed a series of high-profile economic development legislation that creates a Detroit area regional transit authority and a lighting authority for Detroit and other cities.

Chicago Mayor Rahm Emanuel's announcement that the city will explore leasing Midway International Airport to private operators came with a full court press to portray any eventual deal as a good one for taxpayers.

Joe Lhota's departure as New York MTA chairman creates uncertainty at one of the largest issuers in the municipal marketplace as it confronts problems that include high turnover in its top job.

Virginia Gov. Bob McDonnell announced final agreement has been reached on a $1.4 billion public-private partnership to finance, design, and build a new 55-mile section of U.S. Route 460 in the southeastern part of the commonwealth.

Chicago is exploring a second try at privatizing its Midway International Airport, Mayor Rahm Emanuel's administration announced Friday.

The RTA of Illinois board put off a scheduled vote Wednesday on its 2013 budget due to an impasse over the level of fiscal information provided by one of its service boards on up to $1 billion of planned borrowing.

Federal and transit agency officials made their case for federal aid to rebuild in the aftermath of Superstorm Sandy, telling a Senate panel they will need it to help pay debt service on new muni debt.