Transportation industry

Moody's called a court ruling invalidating the New York MTA's payroll mobility tax a credit negative, while Standard & Poor's is maintaining its credit rating.

New York's Metropolitan Transportation Authority needs "net-zero" settlements with its labor union and to implement fare and toll increases to keep budget gaps from resurfacing and rising, Fitch Ratings said.

A federal bankruptcy court judge signed an order authorizing American Airline's assumption of its Tulsa maintenance base sublease, paving the way for the bond trustee on $237 million of debt to soon resume payments.

The Illinois State Toll Highway Authority board on Thursday approved new pools of underwriters as it gears up to enter the market with a roughly $200 million issue to launch a $12 billion, 15-year capital program.

Revenue forecasts are an inexact science, but they are a critical part of the rapidly-expanding network of toll roads. When market participants over-rely on them, the result can be a financial meltdown.

American Airlines and the trustee on $237 million of revenue bonds issued for the airline's Tulsa maintenance base will ask the bankruptcy court to approve a settlement.

The Kansas Department of Transportation reduced its commercial liquidity exposure with Tuesday's negotiated sale of $151.4 million of highway revenue refunding bonds.

The Detroit-Wayne County Airport Authority comes to market this week with new-money and refunding airport revenue bonds.

The New Jersey Turnpike Authority is expected to sell $810 million of refunding bonds in the week's largest municipal bond sale.

Four transportation projects will be expedited as part of the president's "We Can't Wait" program, the Obama Administration announced this week, including the $3.5 billion Columbia River Crossing linking Vancouver, Wash. and Portland, Ore.

Officials from Illinois’ Regional Transportation Authority praised Gov. Pat Quinn’s signing of legislation that requires public disclosure of sales tax agreements between local governments and companies that the RTA and some other governments complain result in lost revenues.

Rhode Island will receive more than $3.3 million in federal funds to help replace the Pawtucket River Bridge on Interstate 95 in Pawtucket.

In a letter to the New York State Thruway Authority, Gov. Andrew Cuomo requested a task force to explore ways to reduce toll increases

Groton, Conn. voters will vote in November whether to issue up to $11.2 million in bonds to cover the cost of a five-year plan to fix town roads.

The Metropolitan Washington Airports Authority has opened a public comment period giving Northern Virginia residents the chance to weigh in on the authority's hotly-debated Dulles Toll Road rate increase schedule.

Creditworthiness requirements and a new debt-subordination feature are likely to shield both taxpayers and private activity bond investors under the expanded Transportation Infrastructure Finance and Innovation Act program, according to a new white paper out from infrastructure firm HNTB.

Louisiana State Bond Commission on Thursday approved a $40 million refunding of parking garage revenue debt at Louis Armstrong New Orleans International Airport.

Georgia asked four firms to bid on the Northwest Corridor project Thursday. The metro Atlanta congestion-reliever is estimated to cost up to $850 million.

Fitch Ratings affirmed its AA-minus rating on Bay Area Toll Authority senior toll bridge revenue bonds in a report on $305 million of BATA debt set to be reoffered next month.

The New York State Thruway Authority is expected to sell $480 million of personal income tax bonds to finance highway and bridge projects on Tuesday, after pricing for retail on Monday.