Far West

Standard & Poor's warned that the plunge in oil prices could hurt Alaska's credit rating, unless the state takes action to address its deficit.

Riverside, Calif. officials say findings in an audit conducted on 2009 sewer bonds and the city's sewer fund mean the city can move forward on a bond sale.

A ruling by the U.S. Surface Transportation Board that it has authority to pre-empt state environmental law on construction of California's high speed rail project conflicts with a previous decision by a California Court of Appeals.

As state and local governments struggled in the recession, debt grew faster than both revenues and expenditures, climbing 22% from $2.4 trillion in 2007 to $2.9 trillion in 2012.

State Controller John Chiang issued a report warning of the growing unfunded retiree healthcare liability cost which has reached $71.8 billion.

Moody's Investors Service has revised its outlook on Aaa-rated Alaska to negative from stable as plunging oil prices threaten to reduce the state's budgetary reserve.

The National Association of Municipal Advisors is urging the Securities and Exchange Commission to create exemptions from broker-dealer and investment adviser registration for MA firms engaged in activities understood to be normal municipal advisory services.

California's severe drought will cost the state billions of dollars for 2014, but its economy is still doing well, according to municipal analysts at Bank of America Merrill Lynch.

An expectation that Nevada will use reserves to bridge a budget shortfall means a step backward for the state at a time when other states are building reserves, according to a Moody's Investors Service credit outlook.

Strong financial management combined with a growing tax base, diverse economy, and growing reserves have placed Los Angeles in a position to strengthen its credit profile, Moody's Investors Service analysts said.