Transportation industry

Both the main airport and seaport in the Commonwealth of the Northern Mariana Islands remain shaky financial propositions, Fitch Ratings said this week in affirming their speculative-grade ratings.

CHICAGO — Chicago Mayor Richard Daley on Thursday questioned the sincerity of American Airlines and United Airlines' willingness to meet with him in an attempt to resolve differences over the timing and financing of $3.36 billion worth of expansion projects at O'Hare International Airport.

The New Jersey Turnpike Authority could roll back toll increases to reflect $1.25 billion it no longer needs to spend on a canceled mass transit tunnel project and still meet contractual debt-service coverage levels, according to an analysis from the Office of Legislative Services.

The Metropolitan Atlanta Rapid Transit Authority signed a $142.9 million contract last week to begin a major overhaul of its aging train-control and rail-safety systems in a deal that is expected to require some bond financing.

In an effort to drum up a new source of revenue for Florida’s beleaguered transportation trust fund, two lawmakers have filed identical bills authorizing the sale of naming rights and advertising space on state-owned transportation facilities.

CHICAGO — Chicago Mayor Richard Daley will meet with executives at American Airlines and United Airlines Thursday as a legal standoff over $3.36 billion worth of expansion projects at O’Hare International Airport drags on.

DALLAS — As Denver International Airport embarks on the largest expansion project in its 16-year history, it’s benefitting from surging passenger levels and an improving economy that yielded a new traffic record in 2010.

WASHINGTON — The District of Columbia expects to issue $81.7 million of federal highway grant anticipation revenue bonds on Wednesday in a deal that was delayed from December at an additional cost to the district of about $2 million.

BRADENTON, Fla. — The Nashville Metropolitan Transit Authority has hired Parsons Brinckerhoff to do a year-long study of high-capacity transit options to shuttle workers and tourists to and from the city’s busy downtown business and entertainment districts.

Philadelphia International Airport plans a $5.2 billion expansion project that would include about $4.2 billion of borrowing to help finance an increase in capacity. Officials also would like to improve the facility’s on-time record, especially during bad weather.

New Jersey is seeking underwriting services as the state’s Transportation Trust Fund Authority plans to issue $600 million of tax-exempt, new-money bonds by April 15 to help finance roads, bridges, and public transportation.

CHICAGO — Chicago has backed off from its plan to sell $1.1 billion of O’Hare International Airport bonds next week as it fights a lawsuit filed by the airport’s two largest carriers challenging its authority to finish work on an $8 billion expansion plan without airline consent.

Attracting private-sector investment is a key element to building a high-speed rail system in the Northeast, witnesses and Congress members said Thursday at a hearing in New York City.

Moody’s Investors Service is considering downgrading the Port Authority of New York and New Jersey because of its need to continue borrowing money to finance transportation projects even as toll collections and airport fees grow slowly.

New Jersey Transit formally rejected a $271 million repayment demand Tuesday from the Federal Transit Administration, which is seeking to recover funds allocated for a canceled $8.7 billion mass-transit tunnel.

The Georgia Department of Transportation has named three consortiums seeking to bid on the Atlanta Multi-Modal Passenger Terminal project.

Without more revenue, New York’s Metropolitan Transportation Authority will exhaust its capacity to bond for new projects after 2014, MTA officials said Monday.

CHICAGO — Attorneys for Chicago and O’Hare International Airport’s two largest carriers will return to court next month as a standoff over the final phase of an $8 billion expansion plan continues.

The Port Authority of New York and New Jersey plans to competitively market $300 million of tax-exempt bonds on Thursday.

New Jersey is looking for a private operator to collect tolls on the New Jersey Turnpike, the Garden State Parkway, and the Atlantic City Expressway.