S&P: California Has Chipped Away at 'Wall of Debt'
California's recovery resulted from reduced spending, not just higher revenues, according to a Standard & Poor's report.
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Clarke Howatt, finance director for the Association of Bay Area Governments, is being sought by San Francisco law enforcement officials in the theft of $1.3 million in bond money from a regional planning agency, according to the San Francisco Chronicle.  more »
Oil-dependent Kern County, Calif. declared a fiscal emergency Tuesday anticipating a shortfall with oil prices down; one-third of the county's property tax revenues come from oil companies.  more »
A taxpayers' group in San Diego County won a legal battle in its challenge to the way the school district spends its voter approved bonds.  more »
Los Angeles International Airport will point to increasing passenger counts and progress on its expansion plan when it sells about $500 million of bonds.  more »
Standard & Poor's Ratings Service raised its long-term rating to AA from AA-minus on the Washington Economic Development Finance Authority's series 2011 wastewater revenue and refunding bonds.  more »
A Medicare violation self-reported by the Mendocino Coast Health Care District could delay its efforts to exit Chapter 9 bankruptcy, according to a Standard & Poor's report.  more »
Hawaii Gov. David Ige affirmed his support of Oahu's $6 billion elevated rail project, but added he will be pressing for cost containment on the project in the state of the state speech he delivered Jan. 26.  more »
California's attorney general's office needs two additional weeks to complete its required review of the proposed sale of non-profit Daughters of Charity Health System to for-profit Prime Healthcare.  more »
Fitch Ratings views favorably two recent developments in San Francisco Community College District's accreditation battle, according to a report released Friday.  more »
Honolulu City Council members are balking at a request to issue $350 million in commercial paper for the city's delayed and over-budget elevated rail transit system.  more »
Three rating agencies affirmed Oregon' AA-plus-level long-term ratings ahead of plans to price a $152 million general obligation bond refunding.  more »
California's long-term ratings from all rating agencies could hit double-A levels if current conditions continue, according to a Municipal Market Analytics report.  more »
U.S. Bankruptcy Judge Christopher Klein has denied a request by Franklin Templeton Investments to stay Stockton's Chapter 9 bankruptcy exit.  more »

The Commonwealth of Puerto Rico has a long history of fiscal uncertainty and structural deficits. Responding to decades of general fund deficits in 2014, the rating services lowered the ratings on the Commonwealth’s general obligation credit to below investment grade, or junk status.

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