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Market Intelligence:
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Keeley Webster

Senior reporter
Connect with Keeley
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  • State Controller Betty Yee at the 2019 California Democratic Party State Convention at the George R. Moscone Convention Center in San Francisco, California on June 1, 2019.
    State budgets
    Finger-pointing on California's late CAFR as investors shrug

    The state auditor raised questions about how the state controller reported California's OPEB liability in the report, which took 11 months to release.

    By Keeley Webster
    August 1
  • Michael Dunleavy, governor of Alaska, speaks during the 2019 CERAWeek by IHS Markit conference in Houston, Texas, U.S., on Friday, March 15, 2019
    State budgets
    Budget cuts drive University of Alaska to consolidate its campuses

    University of Alaska President Jim Jensen has six weeks to craft a plan to consolidate three universities.

    By Keeley Webster
    July 31
  • A firefighter searches a burned-out building in Paradise, California, U.S., on Thursday, Nov. 15, 2018.
    Utilities
    California's wildfire fund is positive for state and localities, Moody's says

    A new state law established the wildfire fund to provide a financial buffer for claims against utilities.

    By Keeley Webster
    July 26
  • Construction of SANDAG's Mid-Coast Transit Project, a San Diego Trolley extension to La Jolla reached its halfway point in spring 2019 and service is anticipated to begin in late 2021.
    Primary bond market
    San Diego agency brings $331 million in green bonds, including turbos

    The San Diego Association of Governments deal, backed by a federal capital grant, is structured to allay investor concerns about funding delays.

    By Keeley Webster
    July 25
  • Mike Dunleavy is sworn in as Alaska's governor on December 3, 2018 in Kotzebue.
    Higher education bonds
    State cuts push University of Alaska toward extreme downsizing

    Facing Gov. Mike Dunleavy's 40% cut in state funding, the regents passed a measure allowing it to lay off tenured professors and close campuses.

    By Keeley Webster
    July 23
  • Dan Morissette, chief financial officer of CommonSpirit Health at its 2019 creation. Before that he was CFO of Dignity Health, which merged into CommonSpirit
    Sell side
    Muni market expected to easily absorb enormous healthcare deal

    CommonSpirit Health will sell $2.7 billion of taxable bonds and $3.1 billion of tax-exempt debt, with BBB-plus ratings, into a supply-starved market.

    By Keeley Webster
    July 18
  • The Securities and Exchange Commission flag flies in front of a building.
    SEC enforcement
    SEC settles charges of unregistered activities on behalf of municipal advisor

    Registered advisory firm Dale Scott & Co. will pay $25,000, and one firm and one individual each will pay $10,000 for acting as unregistered solicitors.

    By Keeley Webster and Rich Saskal
    July 16
  • Marybel Batjner was named by Gov. Gavin Newsom to head the California Public Utilities Commission in July 2019.
    Career moves
    New leader for California PUC amid trying time for state's utilities

    Marybel Batjer will head the Public Utilities Commission as investor-owned utilities struggle with wildfire liabilities.

    By Keeley Webster
    July 15
  • Banker Jose Vera opened a new Pasadena office for Raymond James in 2019.
    Career moves
    Raymond James continues California growth arc with new hire

    The firm opened its fifth California office by hiringbanker José Vera in Pasadena.

    By Keeley Webster
    July 12
  • Gavin Newsom, Democratic candidate for governor of California, gestures as he speaks during a primary election watch party in San Francisco, California, U.S., on Tuesday, June 5, 2018. He was elected governor in November.
    Energy industry
    California's bond-financed wildfire fund will absorb utility liabilities

    Gov. Gavin Newsom signed the bill to establish the wildfire fund, to be seeded with new bonds backed by an old utility ratepayer surcharge.

    By Keeley Webster
    July 12
  • A protester carries a "Affordable Housing Now!" sign during a demonstration outside the Alphabet Inc. annual shareholders meeting in Sunnyvale, California, U.S., on Wednesday, June 19, 2019.
    Affordable housing bonds
    RBC hire reflects opportunity in affordable housing sector

    RBC Capital Markets added Ian Parker as it positions itself to help issuers bring to market billions of dollars in authorized affordable housing debt.

    By Keeley Webster
    July 11
  • Voting in San Francisco
    Lawsuits
    Judge validates two San Francisco tax measures

    A simple majority was enough to pass the two tax measures, a San Francisco Superior Court judge ruled.

    By Keeley Webster
    July 9
  • Stephen Heaney, co-head of public finance at Stifel Financial, retired in June 2019.
    Career moves
    Stifel's Heaney bows out after 43 years in municipal bonds

    As Stephen Heaney retires from Stifel Financial, Betsy Kiehn is stepping up to a new capital markets position at the firm.

    By Keeley Webster
    June 27
  • Helen Cregger
    Downgrades
    Los Angeles school ratings take a hit following parcel tax failure

    Moody's downgrade to Aa3 affects $10.2 billion in outstanding debt.

    By Keeley Webster
    June 21
  • Former Los Angeles Deputy Mayor Austin Beutner was named Los Angeles Unified School District's superintendent in May 2018.
    School bonds
    Los Angeles school district regroups after tax election failure

    Months after the school district cut a deal to end a teacher walkout, voters rejected a tax measure to help pay for it.

    By Keeley Webster
    June 13
  • Sachi Hamai-Los Angeles County Executive
    Ratings
    Fitch boosts Los Angeles County rating ahead of note sale

    The upgrade to $2 billion of outstanding debt brings the county's ratings to the AA-plus level across the board.

    By Keeley Webster
    June 4
  • moorlach-john-california
    Municipal disclosure
    California lawmaker raises questions about tardy CAFR

    State Controller Betty Yee blames the state's new digital accounting system for delaying the comprehensive annual financial report.

    By Keeley Webster
    May 31
  • Oregon State Rep. Bill Post in 2014
    State budgets
    Oregon legislative slowdown ends, paving way to a timely budget

    Minority Republicans had gummed up progress by forcing the House clerk to read every line of every bill, before two members broke ranks.

    By Keeley Webster
    May 30
  • Alex Padilla, California secretary of state, speaks during a rally for Gavin Newsom, Democratic candidate for governor of California, not pictured, in Burbank, California, U.S., on Wednesday, May 30, 2018
    State budgets
    Census counts are a high-stakes game for states

    At stake is an estimated $880 billion in annual federal funding from 300 programs that use census data to distribute funds.

    By Keeley Webster
    May 23
  • On Jan. 22, 2019, construction workers set girders for a California High-Speed Rail Authority overcrossing in Kings County, south of Hanford.
    Infrastructure
    Cuts to California rail may signal trouble for federally funded infrastructure

    The Trump administration canceled $929 million of funding that had been appropriated for California high-speed rail.

    By Keeley Webster
    May 20
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