Far West

Moody's Investors Service upgraded four notches to investment grade tax allocation refunding bonds managed by the successor agency to Torrance, Calif.’s redevelopment agency.

Moody's Investors Service placed on review for downgrade the Aa3 rating of Central Basin Municipal Water District's certificates of participation and adjustable rate refunding certificates of participation.

Bondholders could receive up to a 30% recovery on Nevada County, Calif. dirt bonds that went into default 23 years ago as part of a bankruptcy workout.

Standard & Poor's announced Friday that it is withdrawing its rating on Palm Drive Health Care District, Calif. after repeated attempts to get necessary information from the issuer failed.

Susan Gaffney has been hired as executive director of the National Association of Municipal Advisors.

Smaller seaports may find it difficult to fund the facilities needed to compete with rivals that can accommodate larger cargo ships.

The Financial Industry Regulatory Authority has censored and fined UBS Financial Services $750,000 for falsely representing to its customers that the interest on their municipal bond payments was tax-exempt when it was taxable.

Fresno County, Calif. will bring $27 million of pension obligation refunding bonds to market in the coming days.

The authors of a California ballot initiative that would restructure public employee pensions said they will commission a legal review of the measure's "title and summary" before gathering signatures.

The $11.6 billion set aside for a new freight-related highway projects is seen as important part of Senate's proposed six-year transportation bill.