Transportation industry

The agency that runs the long-struggling San Joaquin Hills toll road in California is asking for a nod from bondholders to restructure its debt portfolio to stay afloat.

With an airline lawsuit behind it and structural tinkering completed, Chicago will enter the market this week with $1.1 billion of mostly new-money revenue bonds to finance the next phase of projects under an $8 billion expansion program at O'Hare International Airport.

New York's Metropolitan Transportation Authority Thursday announced that it plans to sell three buildings on Madison Avenue in midtown Manhattan to raise about $150 million.

CHICAGO — Michigan Gov. Rick Snyder is floating a draft bill to advance a controversial and long-stalled $3.8 billion, partially bond-financed bridge spanning the busy trade route between Detroit and Canada.

BRADENTON, Fla. — A massive overhaul of Virginia’s transportation program will enable the state over the next three years to fund $4 billion of road, rail, and transit projects supported by increased bonding capacity and new financing programs.

The Delaware River and Bay Authority could raise Delaware Memorial Bridge tolls by $1 on July 1 to help finance nearly $200 million of capital needs during the next five years.

Gov. Rick Scott Monday named Ananth Prasad as secretary of the Florida Department of Transportation.

DALLAS — Isolux Corsan Group, a private Spanish developer, could finance and build the next major link in a beltway around the Denver metro area if it reaches agreement with the Jefferson Parkway Public Highway Authority.

Iowa Gov. Terry Branstad last week made good on his promise to reject any one-year spending bills by vetoing a measure that provided about $350 million for transportation programs in fiscal 2012.

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.