Transportation industry

The U.S. Department of Transportation today announced $787 million in grants to 48 states, the District of Columbia and Puerto Rico for 255 projects that will upgrade or replace mass transit infrastructure.

Five consortiums have said they are interested in bidding on Georgia's nearly $1 billion Northwest Corridor project, the Atlanta-region congestion reliever that once was the state's first public-private partnership.

Dallas-Fort Worth International Airport plans to issue $381 million of new money for its $2 billion terminal remodeling program as the airport's largest tenant, American Airlines, considers possible mergers under bankruptcy protection.

Its finance manager is examining how the alleged London interbank offering rate scandal has affected the transit authority's investments.

Moody's knocked $6.5 billion of Chicago O'Hare international Airport general airport revenue bonds down one notch due to the airport's high leverage, narrow financial margins, and economic and construction risks tied to its ongoing $8 billion expansion.

The commonwealth awards a $2.6 billion contact after bidding that attracted some of investment banking's biggest names.

The Chicago region could unsnarl its traffic mess and generate $2 billion in economic activity by 2040 by undertaking 11 major road construction projects with a $52 billion price tag paid for with new toll and user fees, according to a report from the California think tank the Reason Foundation.

The Federal Highway Administration put the brakes on North Carolina's second toll road this week and rescinded its approval of the Monroe Connector/Bypass project for which three tranches of bonds have been sold.

The San Francisco Municipal Transportation Agency raised $63.8 million last week from the sale of revenue bonds during its first foray ever into the municipal bond market.

California Gov. Jerry Brown signed a bill Wednesday that authorizes $4.7 billion, partly from the sale of bonds, to start construction of a high-speed intercity passenger rail network.

The Virginia Small Business Financing Authority will price 262.3 million of bonds on behalf of 95 Express Lanes LLC next week, financing which is expected to pair with a $300 million federal loan for one of Virginia's biggest public-private partnerships.

Officials expect to accommodate large cargo ships traveling up the East Coast after the Panama Canal widens.

The importance of passenger facility fees, often used to back bonds, has grown in recent years and is likely to continue playing an expanding role in financing airport capital projects, according to a new Fitch Ratings report.

Two toll-road operators in the Houston area whose systems interlink will issue $379 million as the systems continue to expand in the suburbs of Texas' largest city.

Current revenues will curtail road building in Texas within a few years, according to testimony last week before a House Appropriations subcommittee.

The outlook for bond-financed transportation infrastructure remains stable, but could possibly see a downturn if the slow economic recovery loses momentum or if banks are downgraded. according to a new mid-year report from Fitch Ratings.

After a long, bumpy road, Gov. Tom Corbett signs a bill that establishes a framework for infrastructure public-private partnerships.

Nassau County received 13 responses to its request for information regarding a public-private partnership for its troubled sewer system.

An analysis of rating actions shows that public-private partnerships are highly exposed to the effects of downgrades and negatives outlooks applied to participants in the P3, according to a report from Moody's Investors Service released Thursday.

Aerostar Airport Holdings and Gruopo Aeuropuertos Avance submitted their proposals for a public-private partnership to run the Luis Muñoz Marín International Airport this week.