Transportation industry

The Santa Rosa Bay Bridge Authority, which oversees the Garcon Point Bridge in north Florida, appears to be headed for default in July.

DALLAS — The Texas Transportation Commission has cleared the way for financing a $1.6 billion toll road in Dallas County that leverages a federal loan and the TTC’s strong credit ratings.

Florida Gov. Rick Scott Monday took credit for federal budget cuts to high-speed rail funding that were in the continuing resolution signed by President Obama over the weekend.

DALLAS — The Texas Department of Transportation would get another $3 billion of bond authorization under a proposal from the chairman of the state Senate Transportation and Homeland Security Committee, but he said finding a long-term solution to the chronic problem of highway funding is not likely in the current session.

Moody’s Investors Service this week downgraded to Baa2 from A3 $16.1 million of revenue bonds issued by the Capital Region Airport Authority, which serves the state capital of Lansing.

WASHINGTON — House Transportation Committee chairman Rep. John Mica on Monday charged the Obama administration failed to justify many of the high-speed rail and so-called TIGER transportation grants it made to state and local governments.

WASHINGTON — High-speed rail and community development block grant funds were among the $2 billion of cuts in a “bridge” continuing resolution enacted Saturday, which narrowly averted a federal government shutdown.

CHICAGO — Fitch Ratings affirmed O’Hare International Airport’s third-lien general airport revenue bond rating and raised its passenger facility charge-backed credit as Chicago prepares to enter the market next week with $1.1 billion of airport bonds.

The New Jersey Transportation Trust Fund Authority Tuesday is expected to approve the sale of $600 million of tax-exempt revenue bonds that would price in early May.

Amtrak is seeking $1.3 billion of federal high-speed rail funds to help build two new train tunnels under the Hudson River, linking New Jersey and New York, and expand high-speed rail on the Northeast Corridor.

Portland’s City Council looks likely to approve $45 million of revenue bonds next week in support of a $1.4 billion light-rail project.

Moody’s Investors Service downgraded the Southern California Logistics Airport Authority’s $51 million of subordinate tax-allocation revenue bonds to B1 from Ba3.

WASHINGTON — The Department of Transportation has received more than 90 applications from 24 states, the District of Columbia, and Amtrak seeking a total of nearly $10 billion for high-speed rail projects — more than four times the $2.4 billion available from Florida Gov. Rick Scott’s cancellation of a project in his state.

DALLAS — Construction is expected to begin in June on a $400 million Union Pacific rail hub in Santa Teresa, N.M., financed through a public-private partnership, after New Mexico Gov. Susana Martinez signed four bills related to the project.

Moody’s Investors Service Friday downgraded the Louisville Regional Airport Authority’s revenue bond rating to A2 from A1.

Alabama officials are considering increasing the use of tolls to build roads in the state and replace the potential loss of $150 million in federal funds.

BRADENTON, Fla. — The Kentucky Turnpike Authority Wednesday expects to conclude a two-day pricing of $112.6 million of new and refunding revenue bonds.

Standard & Poor’s has revised the outlook on Lambert St. Louis International Airport’s A-minus rating to negative from stable due to weak debt-service coverage levels.

Missouri Gov. Jay Nixon last week announced plans to submit applications seeking nearly $1 billion in federal high-speed and intercity passenger rail funds.

DALLAS — Amid ambitious expansion plans, Denver International Airport will price up to $400 million of refunding revenue bonds on Thursday.