Far West

California faces an estimated $18 billion deficit as a new poll finds state residents expressing more concern about the rising cost of living.

The Regents of the University of California will sell $2 billion of bonds next week after yanking a $1.5 billion summer deal amid Trump administration threats.

The transaction, which supports the Navajo community in Ganado, Arizona, represents a major landmark in furthering Native American health care infrastructure, overcoming hurdles tribal governments typically face in issuing municipal debt to open a replicable path to market other indigenous health systems can follow.

The new debt is a "bridge loan" until the company can raise fresh financing, a bondholder said.

Bonds have traded up since the company last week announced a tentative bondholder deal and project update and financing details.

The deal would give the company time to seek additional equity, debt and federal funds.

The railroad corporation's bond financing used a creative risk transfer approach to replace a crumbling cruise ship dock and terminal building.

The situation is worsening, driven by rising costs and AI revenue risks, the forecast warns.

Moody's cited the airport's "significant improvement in liquidity" and "continued enplanement recovery" in its decision to upgrade the rating to Aa3.